Vale releases transcript of 2Q26 earnings call
Reuters2026/07/31 18:12- Vale released a transcript of its 2Q26 earnings call attended by CEO Gustavo Pimenta, CFO and IR head Marcelo Bacci, commercial chief Rogerio Nogueira, operations chief Carlos Medeiros, VBM CEO Shaun Usmar.
- Board set shareholder payouts of USD 1.7 billion for September; extended buyback with a new 18-month plan for up to 100 million shares.
- Iron ore cost outlook reset: 2026 C1 cash cost ex third-party purchases seen at USD 22.5-23.5/ton; all-in cost seen at USD 58-62/ton.
- Serra Sul +20 started up in July with S11D’s second long-distance conveyor; Compact Crusher project commissioning targeted for 4Q.
- Bacaba copper project brought forward to commissioning in 3Q27 from 1H28; copper all-in cost guidance cut to USD 0-500/ton, nickel to USD 10,000-11,500/ton.
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