Vale's Q2 performance was marked by a significant 7.3% y/y increase in iron ore sales and consistent performance at S11D, achieving record production for a second quarter. On copper, Salobo production increased 8% y/y. On nickel, production sourced from Voisey's Bay increased 41% y/y on the back of VBME ramp-up.
Iron ore production reached 80.6 Mt in Q2, 1.9 Mt higher y/y, supported by a robust performance at S11D and Vargem Grande. This quarter's performance reinforces our confidence in achieving the upper end of the 2024 production guidance. Pellets production totaled 8.9 Mt, slightly lower y/y. Iron ore sales reached 79.8 Mt, 5.4 Mt (+7.3%) higher y/y.
Copper production totaled 78.6 kt, flat y/y, as a better performance at the Salobo 1&2 and Sossego plants was offset by the bi-annual maintenance in Sudbury.
Nickel production totaled 27.9 kt, 24% lower y/y, mainly reflecting the planned maintenance strategy at the nickel processing plants.
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Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).
VALE S.A. 
