Vale, one of the world’s largest iron ore suppliers, reported on Tuesday (2/12) that it has lowered its estimates for production of steelmaking raw materials for next year.
The company’s announcement comes amid a slowdown in global demand and an increase in supply, especially from the African continent.
According to Vale’s new forecast, between 335 million and 345 million tons of iron ore should be produced in 2026. The estimate is lower than the previously reported range of 340 million to 360 million tons.
Vale also stated that it is supposed to deliver about 335 million tons of iron ore this year.
In 2025, iron ore prices rise and have remained above US$100 per ton since at least August. Some market analysts are betting that this value should decline next year, with a potential increase in supply from large mining companies.
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Investments
Vale also announced that it expects capital investments of between US$5.4 billion and US$5.7 billion in 2026. The amount was lower than the company’s previous estimate of US$6.5 billion. Throughout this year, Vale has already lowered its annual investment forecast twice, to US$5.5 billion.
The mining company expects contributions of US$2.6 billion next year to activities related to the Mariana River (MG), in 2015, and Brumadinho (MG), in 2019, rifts. These investments include the removal of properties of structures, planned expenditures from remediation agreements, compensation and incurred expenses.
Contributions related to these obligations should gradually decrease to US$1.9 billion in 2027, US$1.3 billion in 2028, US$1.5 billion in 2029, and US$800 million in 2030.
The dam collapse in Brumadinho, which occurred on January 25, 2019, was one of the largest environmental mining disasters in the country, causing the deaths of 272 people.
The tragedy of the collapse of the Mariana Dam, on November 5, 2015, led to the deaths of 19 people and the dumping of more than 40 million cubic meters of raw waste into the environment, polluting the Doce River basin in Minas Gerais and Espirito Santo.