Overview
Vale S.A. is a global mining company focused on iron ore and base metals. Its main businesses include iron ore, pellets and related logistics, as well as nickel, copper and other base metals. Its operations span 18 countries, with a workforce of approximately 180,000 employees and contractors worldwide.[1][2]
Vale’s stated purpose is to “improve lives and transform the future.” [3] The company reported US$38.4 billion in net operating revenue for 2025; revenue for the first half of 2026 was US$19.8 billion.[1][4] [1][4][2][3][2][3]
Products & services
Vale’s iron-ore products include fines, pellets, lump and run-of-mine ore, with fines grades and blends such as IOCJ, BRBF, Mid-Grade Carajás and Pellet Feed–China. Pellets are agglomerated iron-ore particles sized for ironmaking processes; Vale’s reported pellet size range is 8–18 mm.[5][6] The company also sells nickel products including powders, pellets, discs and chips, as well as nickel feed in granule or briquette form. Its documented product names include Tonimet, P-pellets and T123 powder.[7][8][9][10]
Vale’s copper products include copper cathode and concentrates, including products associated with its Salobo and Sossego operations; gold, silver, platinum-group metals and cobalt are also recovered as by-products.[11][12] Related customer and logistics services include iron-ore blending and technical assistance, plus terminal services for receiving, storing, blending and redistributing ore.[13][14] Company reporting gives product volumes and iron-ore revenue by product, but does not state explicit product shares of total company performance.[15] [5][6][7][8][9][10][11][12][13][14][15][7][8][9][10][11][13][14]
Geographic presence
Vale’s operating geography is centered on Brazil, where its iron-ore systems include the Southeastern and Southern systems in Minas Gerais and the Northern System in Carajás, Pará. Northern System ore is transported by the Carajás Railroad to Ponta da Madeira in São Luís, Maranhão. Vale’s nickel activities extend to Canada and Brazil, with refining in the United Kingdom and Japan, and it has interests in Indonesian nickel operations.[16][17][18][19][20]
For 2025, net operating revenue was US$38.403 billion. By customer destination, the largest reported market was China at US$19.405 billion (about 50.5% of the total), followed by Asia excluding China and Japan at US$3.873 billion (10.1%), Europe excluding Germany at US$3.871 billion (10.1%), Brazil at US$3.135 billion (8.2%), Japan at US$2.425 billion (6.3%), the Middle East, Africa and Oceania at US$1.970 billion (5.1%), Germany at US$1.853 billion (4.8%), the United States at US$1.108 billion (2.9%), and the Americas excluding Brazil and the United States at US$763 million (2.0%). Percentages are calculated from the reported destination revenues and total.[21] [16][17][18][19][20][21][21][21][21][21][21][21][21][21][21]
Business segments
Vale reports two business segments. **Iron Ore Solutions** covers the extraction and production of iron ore, pellets and other ferrous products, together with related logistics services. **Vale Base Metals** covers nickel and its by-products, including gold, silver and cobalt, and copper and its by-products, including gold and silver.[22]
For the six months ended June 30, 2026, Iron Ore Solutions generated 14,763 of Vale’s 19,756 in net operating revenue—approximately **74.7%**—and Vale Base Metals generated 4,993, or approximately **25.3%**.[23] [22][23]
Company history
Companhia Vale do Rio Doce was founded in Itabira, Minas Gerais, on June 1, 1942, following the Washington Agreements, to develop iron-ore resources and support Brazil’s industrialization.[24] The opening of the Port of Tubarão in 1966 expanded its export capacity, and discovery of the Carajás deposits in 1967 led to a major expansion: operations there began in 1985.[25] Vale was privatized in 1997, beginning a new phase of international expansion.[24]
Acquisitions broadened its business and international reach, including Ferteco in 2001 and Canadian nickel producer Inco in 2006.[26] The company adopted the Vale brand in 2007 and changed its legal name to Vale S.A. in 2009.[2] The S11D iron-ore project, described by Vale as the largest in its history, received an operating license in December 2016.[27]
The 2015 Fundão dam collapse at Samarco and the 2019 Brumadinho dam breach were defining events in Vale’s history and prompted extensive remediation and safety efforts.[28][29] In 2024, Vale completed a strategic partnership that gave Manara Minerals a 10% stake in Vale Base Metals, and Gustavo Pimenta began his term as CEO on October 1.[30][31]
Sources
- Vale S.A. — Full financial report (2025 Y)
- www.vale.com[2]
- www.vale.com[3]
- Vale S.A. — Presentation (2026 Q 2)
- www.vale.com[7]
- www.vale.com[8]
- www.vale.com[9]
- saladeimprensa.vale.com[10]
- vale.com[11]
- www.vale.com[13]
- www.vale.com[14]
- Vale S.A. — Partial financial report (2026 Q 2)[22][23]
- www.vale.com[24]
- www.vale.com[25]
- www.vale.com[26]
- www.vale.com[27]
- www.vale.com[28]
- www.vale.com[29]
- www.vale.com[30]
- www.vale.com[31]
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