Brazilian iron ore and pellet producer Samarco's net loss rose nearly 80 percent for all of 2025 to $4.612 billion, compared with a net loss of $2.571 billion for 2024, the company said in a press release today.
The results reflect costs related to compensation paid in connection with the 2015 Fundao dam collapse. Operations resumed in 2020.
In 2025, Samarco paid $1.726 billion for environmental and social recovery costs and $1.949 billion for the Renova Fund to pay for damages associated with the dam failure. Such expenses compare to $155.5 million and $840.2 million, respectively, in 2024.
In 2025, Samarco's net sales jumped 30 percent from 2024 to $1.897 billion, while production costs per metric ton (mt) fell 16 percent to $42.8 per ton. Adjusted EBITDA, which excludes one-time items, increased 30 percent to $1.086 billion.
By volume, 2025 production rose 55 percent to 15.1 million tons and sales jumped 68 percent to 15.9 million tons.
Having completed the design and received the license, Samarco began the third phase of the project, opening the final stage of the relaunch operating activities, returning the company to full capacity up to 30 million tons per year
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