Brazilian miner Vale (NYSE: VALE)  posted on Thursday a 35% fall in its second-quarter net profit from a year earlier, while unveiling fresh shareholder remuneration and narrowing the range of its copper and nickel production estimates for 2026.
Vale, one of the largest iron ore producers in the world, posted a $1.38 billion net profit for the April-June quarter, below the $1.85 billion expected in a LSEG analyst poll.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) landed at $3.68 billion, rising 9% year-on-year, while net revenue increased 19% in the period to $10.5 billion.
Separately, Vale projected 2026 copper production to land between 360,000 and 380,000 metric tons, from a previous 350,000-380,000 expected range. For nickel, the firm estimated production between 185,000 and 200,000 tons this year, versus previous 175,000-200,000 range.
Vale also announced a new share buyback program of up to 100 million shares, to be carried out within an 18-month period, and the payment of 2.03 reais per share to shareholders through dividends and interest on equity.
(Reporting by Andre Romani; Editing by Chris Reese and Natalia Siniawski)
