Vale's Q1 performance was marked by robust iron ore sales, which increased by 15% y/y, and by consistent improvement in iron ore operations. On copper, Salobo 3 reached ~90% average throughput rate in the quarter. On nickel, Canadian and Indonesian operations delivered stronger performance y/y.
Vale's Q1 performance was marked by robust iron ore sales, which increased by 15% y/y, and by consistent improvement in iron ore operations. On copper, Salobo 3 reached ~90% average throughput rate in the quarter. On nickel, Canadian and Indonesian operations delivered stronger performance y/y.
Iron ore production totaled 70.8 Mt, increasing 6% y/y, driven by S11D's improved operating performance, continued asset reliability initiatives and higher 3rd party purchases. Pellets production totaled 8.5 Mt, up 2% y/y, driven by higher pellet feed availability. Iron ore sales reached 63.8 Mt in 1Q24, 15% higher y/y.
Copper production totaled 81.9 kt, 22% higher y/y, driven by a continued solid ramp-up at Salobo 3, as well as by better operational performance at the Salobo 1 & 2 plants.
Nickel production totaled 39.5 kt, decreasing by 4% y/y, mainly reflecting the Onça Puma furnace rebuild, partially offset by stronger performance at the Canadian and Indonesian operations.
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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. 
