Brazil · Integrated · Operating · NYSE:VALE
Atlantic-coast nickel for European EV supply chains. Indigenous land consultations ongoing.
Brazil — competitive Class-1 nickel (Vale) and rare earths (CBMM). Strong indigenous land consultation regime.
Council Regulation (EU) 2026/823 extends import restrictions on Russian Class-1 nickel through Q2-2027. Existing long-term contracts grandfathered until 2026-12-31. EU OEMs accelerating substitution programs.
President signed Reg. 18/2026. Downstream value-addition mandate maintained. Chinese-built HPAL capacity now ~620ktpa Ni-eq, but ESG and FEOC issues block IRA qualification of most output.
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