Vale Base Metals to triple earnings to $5B for 2026, CEO says
VBM produced 382,300 tonnes of copper and 177,200 tonnes of nickel in 2025, increases of 10% and 11%, respectively.
Vale’s base metals unit aims to triple its pre-tax profit to $5 billion in 2026, up from $1.3 billion in 2024, according to CEO Shaun Usmar. The company's strategy involves cost reductions, an overhaul of operating accountability, and $10 billion in capital project overruns. The push is fueled by stronger copper prices and a focus on redesigning projects and expanding existing infrastructure near current facilities.
Usmar believes the company can deliver growth at lower costs and higher returns, capitalizing on its established mining and processing infrastructure in Canada and Brazil.
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