Vale press release (NYSE:VALE): Q2 pro forma EBITDA totaled $3.4 billion, 7% higher q/q and 14% lower y/y.
The strong performance of copper and nickel segments, along with lower C1 cash cost in iron ore, partly offset the impact of weaker commodity prices.
Revenue of $8.8B (-11.3% Y/Y) misses by $80M.
The average realized iron ore fines price was $ 85.1/t, 6% lower q/q and 13% lower y/y, in line with the broader decline in iron ore reference prices.
Copper all-in cost guidance for 2025 revised down to $1,500-2,000/t (from $2,800-3,300/t), driven by solid operational performance and higher-than-expected gold prices.
