Brazilian mining giant Vale, one of the world’s leading iron ore suppliers, has lowered its production outlook for 2026 amid weakening global demand and the arrival of new supply from Africa.
The company stated, ahead of its Investor Day event in London, that it now targets production of 335–345 million tonnes of iron ore in 2026, compared with its previous estimate of 340–360 million tonnes, marking a clear downward revision of its earlier expectations.
Vale is expected to deliver around 335 million tonnes of iron ore this year, a level close to the upper end of its annual guidance range.
It is worth noting that Vale was the world’s top iron ore producer before the 2019 tailings dam collapse in Brazil, which halted operations at one of its key facilities and had a long-lasting impact on its production capacity.
