In the first quarter of 2024, Vale's iron ore sales were strong, with volume growth of 15% year-on-year, and iron ore operating performance continued to improve. In the copper business, the Salobo Plant 3 reached an average production rate of approximately 90% during the quarter. In the nickel business, both Canada and Indonesia saw year-over-year growth in operating results.
Iron ore production reached 70.8 million tonnes in the first quarter, up 6% year-on-year, driven by improved S11D operating performance, continued implementation of asset reliability measures and higher third-party procurement. Pellet production reached 8.5 million tonnes, up 2% year-on-year, driven by an increase in the supply of pellet fines. Iron ore sales reached 63.8 million tons, up 15% year-on-year.
In the first quarter, copper production reached 81,900 tonnes, up 22% year-on-year, driven by continued and stable production at the Salobo Plant 3 and improved operating performance at the Salobo Plant 1 and 2.
Nickel production in the first quarter was 39,500 mt, down 4% year-on-year, mainly due to the rebuilding of the Onça Puma furnace, partially offset by higher performance in the Canadian and Indonesian operating areas.
