Vale Base Metals has reported a 6% increase in its copper mineral reserves and resources to 53-million tonnes in 2025, as the company progresses plans to expand its resource base by more than 20% by the end of 2027.
The growth forms part of a broader uplift across the group’s portfolio, with nickel mineral reserves and resources rising 13% year-on-year to 14-million tonnes, supported by exploration success and updated geological modelling across operations in Canada, Brazil and Indonesia.
Chief technical officer Chris McCleave said in a statement on Monday that the results followed a “transformational year” for the business.
“Our teams continued to strengthen geological models across several districts while advancing drilling programmes that supported mineral resource growth and reserve replacement across the portfolio,” he said.
Copper mineral resources, inclusive of inferred material, reached a record 44.9-million tonnes of contained metal, a 7% year-on-year increase, supporting more than 65 years of potential production at current mining rates. Copper mineral reserves increased by 2% to 8.2-million tonnes after depletion.
Nickel also posted strong gains, with mineral resources increasing 20% to 7.7-million tonnes and mineral reserves rising 5% to 5.9-million tonnes, driven by resource conversion in Indonesia and updated models in Canada.
In Brazil’s prolific Carajás District, Vale Base Metals doubled its copper drilling intensity in 2025 and plans to double it again in 2026, targeting more than 120 000 m of drilling. The region remains central to the company’s copper growth strategy.
Key project highlights included the conversion of 0.6-million tonnes of contained copper to reserves at the Bacaba project, now under construction, and the addition of 1.8-million tonnes of copper to resources across multiple deposits in the South Hub. Exploration programmes also confirmed extensions of known orebodies and identified new down-plunge mineralisation below existing pits.
At the North Hub, continued drilling at Paulo Afonso and Furnas added to mineral resources and supported future underground development potential, while optimisation work at the Alemão project and satellite deposits lifted resource estimates.
In Canada, drilling and engineering studies at operations including Voisey’s Bay contributed to increases in both copper and nickel resources, extending potential mine lives.
Looking ahead, Vale Base Metals will maintain a strong focus on copper growth in 2026, prioritising near-mine extensions, satellite deposits and deeper orebody continuity across its portfolio.
Planned activities include expanded drilling programmes across Carajás, continued work at the Sossego complex to test underground potential, and new campaigns at Salobo and Alemão. Brownfield exploration in Canada and greenfield programmes in Chile and Peru will also continue as part of efforts to sustain long-term production growth.