v3.26.1
Information by business segment and geographic area (Tables)
 6 Months Ended
Jun. 30, 2026
Notes and other explanatory information [abstract]  
Schedule of adjusted EBITDA
         
    Three-month period ended June 30, Six-month period ended June 30,
  Notes 2026 2025 2026 2025
Iron ore   2,561 2,396 5,002 4,729
Iron ore pellets   416 477 895 1,013
Other ferrous products and logistics services   79 104 65 122
Iron Ore Solutions   3,056 2,977 5,962 5,864
           
Nickel   294 201 571 242
Copper   1,026 538 1,975 1,084
Others - Vale Base Metals   (31) (18) (60) (51)
Vale Base Metals   1,289 721 2,486 1,275
           
Unallocated items   (669) (312) (942) (638)
           
Adjusted EBITDA   3,676 3,386 7,506 6,501
           
Depreciation, depletion and amortization 10 (911) (780) (1,756) (1,484)
Impairment and other results related to non-current assets, net and other (i)   (275) (300) (652) (720)
EBITDA from associates and joint ventures   (335) (302) (568) (494)
Operating income   2,155 2,004 4,530 3,803
           
Equity results and other results in associates and joint ventures 26 100 (68) 136 (9)
Financial results 15 (473) 167 (439) 352
Income before income taxes   1,782 2,103 4,227 4,146

 

(i) Includes US$16 and US$(104) of results related to non-current assets net for the three and six-month period ended June 30, 2026, respectively (2025: US$(132) and US$(385)), and US$(291) and US$(548) of expenses to reflect the performance of streaming transactions at market prices, for the three and six-month period ended June 30, 2026, respectively (2025: US$(168) and US$(335)).
Schedule of net operating revenue by shipment destination
                 
  Three-month period ended June 30, 2026
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Others - Vale Base Metals Total Vale Base Metals Net operating revenue
China (i) 4,975 – 7 4,982 141 151 9 301 5,283
Japan 536 24 1 561 78 – – 78 639
Asia, except Japan and China 621 65 2 688 109 297 – 406 1,094
Brazil 244 361 173 778 29 – 4 33 811
United States of America – 56 1 57 233 – 42 275 332
Americas, except United States and Brazil – 58 – 58 126 – – 126 184
Germany 83 59 – 142 147 234 – 381 523
Europe, except Germany 182 44 1 227 343 615 49 1,007 1,234
Middle East, Africa, and Oceania – 395 – 395 3 – – 3 398
Net operating revenue 6,641 1,062 185 7,888 1,209 1,297 104 2,610 10,498

 

 

  Three-month period ended June 30, 2025
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Others - Vale Base Metals Total Vale Base Metals Net operating revenue
China (i) 4,186 – – 4,186 106 26 11 143 4,329
Japan 555 40 1 596 52 – – 52 648
Asia, except Japan and China 533 84 2 619 97 186 3 286 905
Brazil 233 326 193 752 16 – 6 22 774
United States of America – 67 1 68 198 – 7 205 273
Americas, except United States and Brazil – 45 – 45 154 – – 154 199
Germany 77 30 – 107 126 218 2 346 453
Europe, except Germany 178 13 – 191 246 349 9 604 795
Middle East, Africa, and Oceania – 399 – 399 29 – – 29 428
Net operating revenue 5,762 1,004 197 6,963 1,024 779 38 1,841 8,804

(i) Includes operating revenue of China Mainland in the amount of US$5,179 (2025: US$4,230) and Taiwan in the amount of US$104 (2025: US$99).

 

  Six-month period ended June 30, 2026
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Others - Vale Base Metals Total Vale Base Metals Net operating revenue
China (i) 8,977 20 7 9,004 303 308 37 648 9,652
Japan 1,049 83 1 1,133 125 – – 125 1,258
Asia, except Japan and China 1,284 112 6 1,402 197 454 11 662 2,064
Brazil 491 707 322 1,520 67 – 7 74 1,594
United States of America – 109 1 110 484 – 42 526 636
Americas, except United States and Brazil – 144 – 144 294 – – 294 438
Germany 164 92 – 256 247 491 – 738 994
Europe, except Germany 368 91 1 460 638 1,224 49 1,911 2,371
Middle East, Africa, and Oceania – 734 – 734 15 – – 15 749
Net operating revenue 12,333 2,092 338 14,763 2,370 2,477 146 4,993 19,756

 

  Six-month period ended June 30, 2025
  Iron Ore Solutions Vale Base Metals  
  Iron ore Iron ore pellets Other ferrous products and logistics services Total Iron Ore Solutions Nickel Copper Others - Vale Base Metals Total Vale Base Metals Net operating revenue
China (i) 7,811 – – 7,811 198 188 18 404 8,215
Japan 999 59 1 1,059 106 – – 106 1,165
Asia, except Japan and China 1,068 122 8 1,198 195 215 7 417 1,615
Brazil 482 703 353 1,538 39 – 11 50 1,588
United States of America – 121 1 122 421 – 27 448 570
Americas, except United States and Brazil – 94 – 94 274 – – 274 368
Germany 159 71 – 230 268 412 6 686 916
Europe, except Germany 397 46 – 443 447 705 11 1,163 1,606
Middle East, Africa, and Oceania – 843 – 843 37 – – 37 880
Net operating revenue 10,916 2,059 363 13,338 1,985 1,520 80 3,585 16,923

(i) Includes operating revenue of China Mainland in the amount of US$9,437 (2025: US$8,031) and Taiwan in the amount of US$215 (2025: US$184).
Schedule of cost of goods sold and services rendered
       
  Three-month period ended June 30, Six-month period ended June 30,
  2026 2025 2026 2025
Iron Ore 4,088 3,387 7,333 6,197
Iron Ore Pellets 680 577 1,267 1,136
Other ferrous products and logistics services 155 140 320 277
Iron Ore Solutions 4,923 4,104 8,920 7,610
         
Nickel 946 781 1,856 1,688
Copper 479 402 905 741
Others - Vale Base Metals 108 37 148 75
Vale Base Metals 1,533 1,220 2,909 2,504
         
Depreciation, depletion and amortization 838 761 1,638 1,422
Cost of goods sold and services rendered 7,294 6,085 13,467 11,536
Schedule of assets by geographic area
               
  June 30, 2026 December 31, 2025
  Investments in associates and joint ventures Intangible assets Property, plant and equipment Total Investments in associates and joint ventures Intangible assets Property, plant and equipment Total
Brazil 2,812 9,414 36,795 49,021 2,593 8,944 33,755 45,292
Canada – 6 7,805 7,811 – 8 8,054 8,062
Americas, except Brazil and Canada – – 3 3 – – 4 4
Indonesia 1,865 – 70 1,935 1,842 – 63 1,905
China – 1 2 3 – 1 3 4
Asia, except Indonesia and China – – 598 598 – – 623 623
Europe – 1 590 591 – – 617 617
Oman 587 – 536 1,123 594 – 506 1,100
Total 5,264 9,422 46,399 61,085 5,029 8,953 43,625 57,607