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Vale Base Metals Releases Exploration Results for 2025 and Outlook for 2026

Vale Base Metals (VBM) has announced promising exploration results for 2025, with projections indicating a substantial increase in total mineral reserves and resources by over 20% across Canada and Brazil by the end of 2027. As of 2025, VBM reported a 6% increase in copper reserves, bringing the total to 53 million tonnes, alongside a 13% increase in nickel reserves to 14 million tonnes. This growth solidifies VBM's strategy for organic growth through enhanced exploration initiatives.

Overview of Mineral Resources

In comparison to 2024, VBM's copper mineral resources increased to a record level of approximately 44.9 million tonnes, a 7% year-on-year growth, supporting over 65 years of potential production at current extraction rates. Furthermore, nickel resources surged to around 7.7 million tonnes, marking a significant 20% year-on-year increase.

Chris McCleave, VBM's Chief Technical Officer, expressed enthusiasm about the future, stating, "We have an ambitious plan following a transformative year in 2025. Our teams have continuously strengthened geological models while pushing forward drilling programs that support mineral resource growth and reserve replenishment across our portfolio."

Exploration and Drilling Plans for 2026

Looking ahead to 2026, VBM intends to maintain its exploration momentum, particularly in its primary mining districts, with a focused approach on increasing copper production. McCleave noted, "We have doubled the intensity of our copper drilling in the Carajás district, one of the world's most promising copper areas, and our goal is to double it again in 2026."

VBM has also managed to reduce its unit costs by 34% while enhancing productivity, setting the stage for impressive growth in the coming years. The exploration strategy aims to tap into satellite deposits and deepen ongoing projects for maximum yield.

Highlights from the 2025 Exploration Results

South Center (Brazil; Copper):

• - 0.6 Mt of copper transformed into Bacaba reserves, which are currently under development; an additional 1.8 Mt was added to mineral resources after extensive drilling of various deposits such as Sequeirinho Underground and Mata.
• - Significant drilling activities (31,000 m) were concentrated in the center focusing on increasing geological trust and testing sub-surface extensions of several bodies, reaffirming the expansion of mineralized bodies beneath current open-pit mines.

North Center (Brazil; Copper):

• - Drilling in Paulo Afonso resulted in adding 0.2 Mt of copper to mineral resources through ongoing drilling and modeling efforts.
• - The Furnas project under VBM's partnership with Ero Copper successfully completed 26,287 meters of drilling, leading to a notable increase in copper resources.

Alemão (Brazil; Copper):

• - Optimization and comprehensive engineering changes to the project led to an increase of 0.6 Mt of copper in mineral resources.

Salobo (Brazil; Copper):

• - Though significant reserves and resources are already established, further geological studies are underway to prepare for 2026 drilling programs.

Ontario and Voisey's Bay (Canada; Copper-Nickel):

• - Drilling and geological model audits yielded additions of copper (0.5 Mt) and nickel (0.9 Mt) reserves, thus extending their operational lifespan.

Future Exploration Priorities

In 2026, VBM's plans include:

• - Increasing drilling activity in Carajás with over 120,000 meters planned, doubling from 2025 levels.
• - Continuing drilling at Sossego to enhance potential resources while supporting underground mining initiatives.
• - New drilling programs at Salobo and Alemão aimed at maximizing the potential of satellite deposits.
• - Keeping exploration efforts rolling in pristine mining zones in Chile and Peru, ensuring a steady project rotation to leverage proven copper deposits.

VBM’s comprehensive evaluation and positive results set a robust foundation for future developments, with an emphasis on exploration efficiency and profitability. Detailed reports of mineral reserves and resources, as well as updates on exploration activities, can be found on VBM's website.

Vale Base Metals remains one of the leading producers of high-quality nickel and significant copper source, with a global operational hub located in Toronto, Canada, and a presence in various regions, including Indonesia and Brazil. VBM's strategic direction focuses on sustainable mining practices with a strong emphasis on environmental stewardship.