Record Iron Ore Production
Iron ore production reached 94 million tons, an increase of 4% year-on-year, marking the highest quarterly output since 2018.
Strong Copper Performance
Copper production grew 6% compared to last year, supported by Salobo's solid performance, marking the best third-quarter result since 2019.
Nickel Production and Cost Reduction
Nickel production remained flat year-on-year, but unit costs were significantly reduced due to the Voisey's Bay underground project ramp-up.
Safety Milestones Achieved
Removed the last dam from emergency Level 3 and implemented the global industry standard on tailings management.
Improved Financial Performance
Pro forma EBITDA reached $4.4 billion, a 17% increase year-on-year and 28% higher than the last quarter.
Base Metals EBITDA Growth
Base Metals EBITDA grew by more than $400 million year-on-year, reaching almost $700 million, due to better results in copper and nickel.
Cost Reduction in Base Metals
Copper all-in costs decreased by 65%, and nickel all-in costs fell by 32% year-on-year.
Cash Flow Improvements
Recurring free cash flow reached $1.6 billion, an increase of $1 billion year-on-year.
Strategic Project Advancements
Secured approvals for expansion projects in Carajás and Serra Sul, reinforcing long-term strategic focus.