Vale reports Q2 revenue $9.67B, consensus $9.92B

Reports Q2 proforma adjusted EBITDA from continuing operations $4.5B. “We continue to make substantial progress on operational excellence across all businesses. In Iron Solutions we set a new production record for a second quarter at S11D, alongside solid performances from Itabira and Vargem Grande. The Torto dam license is a significant milestone, enhancing our portfolio’s overall quality. Our Energy Transition Metals (ETM) business has also performed very well with the successful ramp-up of Salobo III and improved performance at Sossego. Today’s annoucement to form a strategic partnership with Manara Minerals and Engine No.1 is another major milestone in ETM’s journey to accelerate accretive growth and unlock significant long-term value for all our stakeholders. Furthermore, we delivered on our commitment and implemented GISTM for our prioritized tailings facilities. This is an important milestone in the evolution of our dam management and the safety of our operations and surrounding communities. We will continue advancing with the incorporation of the best international practices so that Vale becomes an increasingly safe and sustainable company,” commented Eduardo Bartolomeo, Chief Executive Officer.