NEWS RELEASE: Vale Base Metals Releases 2025 Exploration and 2026 Outlook Results; Copper Mineral Reserves and Mineral Resources Increase 6% to 53 Million Tonnes (March 30, 2026)

Key Takeaways

• Copper reserves hit 53 Mt, up 6% YoY
• Nickel reserves rise 13% to 14 Mt
• Goal: >20% reserve growth by 2027
• Drilling intensity doubled in Brazil’s Carajás district
• Per‑unit drilling cost cut 34%

Summary

Vale Base Metals announced that its 2025 copper mineral reserves and resources grew 6% to 53 million tonnes, while nickel reserves rose 13% to 14 million tonnes. The company targets more than a 20% increase in total reserves across Canada and Brazil by the end of 2027. Exploration momentum is driven by a doubled drilling program in Brazil’s Carajás district and a 34% reduction in per‑unit drilling costs. These results position VBM for strong organic growth and greater market share in key base‑metal segments.

Pulse Analysis

Vale Base Metals’ reserve expansion arrives at a pivotal moment for the copper market, which is grappling with supply constraints as electric‑vehicle production and renewable‑energy projects accelerate. By lifting copper reserves to 53 million tonnes, VBM not only bolsters its own output capacity but also adds a reliable source of primary copper that can offset the volatility of secondary‑supply channels. This scale‑up aligns with analysts’ forecasts that copper demand could outpace supply growth by 2028, positioning VBM as a strategic partner for manufacturers seeking long‑term contracts.

The company’s aggressive exploration agenda, highlighted by a two‑fold increase in drilling intensity at Brazil’s Carajás district, reflects a data‑driven approach to resource definition. Carajás, long regarded as one of the world’s most prospective copper belts, offers high‑grade ore bodies that can improve mine economics when paired with VBM’s recent 34% cut in per‑unit drilling costs. These efficiency gains stem from advanced drilling technologies and streamlined logistics, translating into lower capital expenditures and faster reserve replacement cycles—key metrics that investors scrutinize for sustainable profitability.

Beyond copper, VBM’s 13% rise in nickel reserves to 14 million tonnes diversifies its portfolio amid the burgeoning battery‑metal demand. Coupled with growth in cobalt, platinum, palladium, and gold assets, the company is building a polymetallic platform that can weather commodity‑specific downturns. The announced >20% reserve growth target by 2027 signals confidence in its exploration pipeline and may attract capital seeking exposure to the broader base‑metal transition. As ESG considerations push manufacturers toward responsibly sourced metals, VBM’s transparent reporting and cost‑effective drilling could become differentiators in a competitive global market.