en.Wedoany.com Reported - Brazilian mining giant Vale is shifting its strategic focus towards base metals like copper and nickel, which are projected to contribute up to 35% of profits over the next decade. Company executives stated that copper and nickel will account for approximately 26% of EBITDA by 2026, a significant increase from 10% in 2024, reflecting the emphasis on critical minerals for the energy transition.

Vale has set a target to achieve 700,000 tonnes of copper production by 2035, compared to 382,000 tonnes in 2025. Although this year's copper output is expected to slow to between 350,000 and 380,000 tonnes due to plant shutdowns, the company assures a solid growth path over the next ten years. Exploration successes in Brazil and Canada could help surpass long-term targets.

The Sudbury Basin in Canada is a strategic core. Vale Base Metals and Glencore agreed in December to assess a copper brownfield project. A potential alliance could unlock an additional 50,000 tonnes of annual copper production over a 20-year mine life, while also contributing nickel, gold, platinum, and palladium. The company is also studying capacity expansions at Sudbury and Voisey's Bay and plans to double drilling to over 120,000 meters in Brazil's Carajás region.

The company aims for a 20% growth in reserves and resources in Canada and Brazil between 2024 and the end of 2027. In the last fiscal year, copper reserves and resources increased by 6% to 53 million tonnes, and nickel rose by 13% to 14 million tonnes. Current copper resources support over 65 years of potential production, strengthening the organic growth portfolio.

Vale's Base Metals division's EBITDA more than doubled in 2025, rising from $1.3 billion to $3.3 billion. Analysts expect this figure to be between $3.7 billion and $5.5 billion this year. Nickel production targets are set for 210,000 to 250,000 tonnes by 2030, with last year's output at approximately 177,000 tonnes. Iron ore expansion continues but at a more moderate pace, with the company clearly identifying base metals as the area with the greatest growth potential.

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