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Vale reported a year-on-year decrease in nickel production for 2024. This decline stemmed from reduced output in Indonesia and furnace rebuilds at Brazil's Onca Puma asset.
Production Variances Across Regions
Vale produced roughly 160,000t of nickel in 2024, a 3pc drop. Brazilian assets saw a 17pc output decline to 14,200t due to Onca Puma's rebuild, which concluded in Q3. Q4 output rebounded to 4,800t from Q3's 600t. Canadian assets, Sudbury and Voisey's Bay, increased nickel output by 10.6pc year-on-year to 65,800t. Indonesian production fell 9.6pc to 80,300t.
Copper Production Sees Growth
Conversely, Vale's copper production rose 3pc year-on-year in Q4 to 101,800t. Salobo and Sudbury increased output, while Voisey's Bay underground mines ramped up. 2024 copper output totaled 348,000t, a 6.6pc year-on-year increase. Salobo produced 200,000t in 2024, an 11pc rise, and Sudbury's output increased 1.2pc to 58,600t.
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