v3.26.1
Information by business segment and geographic area (Tables)
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
Schedule of adjusted EBITDA
       
Year ended December 31, Notes 2025 2024 2023
Iron ore   11,562 11,598 15,205
Iron ore pellets   2,052 3,166 3,136
Other ferrous products and logistics services   189 321 473
Iron Ore Solutions   13,803 15,085 18,814
         
Nickel   714 114 851
Copper   2,757 1,521 1,100
Other base metals   (116) (182) 12
Vale Base Metals   3,355 1,453 1,963
         
Unallocated items   (1,700) (1,698) (2,176)
         
Adjusted EBITDA   15,458 14,840 18,601
         
Depreciation, depletion and amortization 11(a) (3,105) (3,057) (3,070)
Impairment and result on disposals of non-current assets, net and other (i)   (5,384) (55) (482)
EBITDA from associates and joint ventures   (1,072) (940) (844)
Operating income   5,897 10,788 14,205
         
Equity results and other results in associates and joint ventures 30 (218) (269) (1,108)
Financial results 18 (1,026) (3,823) (1,946)
Income before income taxes   4,653 6,696 11,151

 

(i) Includes US$3,578 of impairment losses (2024: US$2,210 and 2023: US$0), US$1,021 of net losses from the write-off of non-current assets (2024: net gains of US$2,511 and 2023: net losses of US$266), and US$785 of expenses to reflect the performance of streaming transactions at market prices (2024: US$356 and 2023: US$216).
Schedule of net operating revenue by shipment destination
                 
  Year ended December 31, 2025
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Other base metals Total Vale Base Metals Net operating revenue
China (i) 18,517 16 – 18,533 523 301 48 872 19,405
Japan 1,990 170 2 2,162 263 – – 263 2,425
Asia, except Japan and China 2,464 323 20 2,807 412 588 66 1,066 3,873
Brazil 979 1,362 702 3,043 69 – 23 92 3,135
United States of America – 193 – 193 869 – 46 915 1,108
Americas, except United States and Brazil – 192 – 192 571 – – 571 763
Germany 310 138 – 448 574 825 6 1,405 1,853
Europe, except Germany 750 89 – 839 953 2,039 40 3,032 3,871
Middle East, Africa, and Oceania – 1,913 – 1,913 57 – – 57 1,970
Net operating revenue 25,010 4,396 724 30,130 4,291 3,753 229 8,273 38,403

 

  Year ended December 31, 2024
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Other base metals Total Vale Base Metals Net operating revenue
China (i) 18,157 – – 18,157 432 717 69 1,218 19,375
Japan 2,380 278 2 2,660 360 – 30 390 3,050
Asia, except Japan and China 2,040 378 11 2,429 381 77 – 458 2,887
Brazil 1,085 1,706 704 3,495 50 – 20 70 3,565
United States of America 26 172 – 198 855 – 22 877 1,075
Americas, except United States and Brazil – 443 1 444 429 97 – 526 970
Germany 316 188 – 504 401 562 – 963 1,467
Europe, except Germany 794 146 – 940 727 1,352 – 2,079 3,019
Middle East, Africa, and Oceania 7 2,610 – 2,617 31 – – 31 2,648
Net operating revenue 24,805 5,921 718 31,444 3,666 2,805 141 6,612 38,056

 

  Year ended December 31, 2023
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Total Vale Base Metals Others Net operating revenue
China (i) 21,061 2 – 21,063 693 454 1,147 – 22,210
Japan 2,356 279 1 2,636 583 – 583 – 3,219
Asia, except Japan and China 1,691 407 10 2,108 462 105 567 – 2,675
Brazil 1,370 1,684 502 3,556 63 – 63 136 3,755
United States of America – 262 – 262 1,361 – 1,361 – 1,623
Americas, except United States and Brazil 1 398 1 400 456 41 497 – 897
Germany 244 55 2 301 458 592 1,050 – 1,351
Europe, except Germany 1,037 374 – 1,411 1,082 1,184 2,266 – 3,677
Middle East, Africa, and Oceania – 2,342 – 2,342 35 – 35 – 2,377
Net operating revenue 27,760 5,803 516 34,079 5,193 2,376 7,569 136 41,784

 

(i) Includes operating revenue of China Mainland in the amount of US$19,038 (2024: US$18,556 and 2023: US$21,577) and Taiwan in the amount of US$367 (2024: US$819 and 2023: US$633).
Schedule of cost of goods sold and services rendered
     
Year ended December 31, 2025 2024 2023
Iron Ore 13,488 12,846 12,357
Iron Ore Pellets 2,516 2,920 2,759
Other ferrous products and logistics services 608 556 335
Iron Ore Solutions 16,612 16,322 15,451
       
Nickel 3,513 3,414 4,169
Copper 1,646 1,472 1,357
Other base metals 217 154 –
Vale Base Metals 5,376 5,040 5,526
       
Other – – 196
       
Depreciation, depletion and amortization 2,959 2,903 2,916
Cost of goods sold and services rendered 24,947 24,265 24,089
Schedule of assets by geographic area
               
  December 31, 2025 December 31, 2024
  Investments in associates and joint ventures Intangible Property, plant and equipment Total Investments in associates and joint ventures Intangible Property, plant and equipment Total
Brazil 2,593 8,944 33,755 45,292 2,046 8,847 28,706 39,599
Canada – 8 8,054 8,062 – 1,666 9,452 11,118
Americas, except Brazil and Canada – – 4 4 – – 3 3
Indonesia 1,842 – 63 1,905 1,885 – 61 1,946
China – 1 3 4 – 1 4 5
Asia, except Indonesia and China – – 623 623 – – 654 654
Europe – – 617 617 – – 589 589
Oman 594 – 506 1,100 616 – 515 1,131
Total 5,029 8,953 43,625 57,607 4,547 10,514 39,984 55,045