Brazilian mining giant Vale aims to reach an annual iron ore production ranging from 340 million to 350 million tons, including around 85% premium products such as Brazilian blend fines, agglomerated iron ore, and briquettes.

Vale targeted to reduce high silica content in its product portfolio to below 5% by 2026, from below 10% currently, and to increase agglomerates from around 13% to 15%.

The company continues its strategy developed five years ago, pursuing premium, high-grade iron ore products containing direct reduction metals, aiming to increase the product portfolio required for more sustainable steel production.

After achieving the highest iron ore production since 2018, Vale raised its 2024 production guidance to the upper end of the range of 323 to 330 million tons.