Vale’s base metals earnings grow 45.7% in Q1 on higher nickel prices

Vale’s base metals business posted a 45.7% increase in its core earnings in the first quarter of 2018 from a year earlier, helped primarily by the higher realized nickel prices during the period, the Brazilian diversified miner said on Wednesday April 25.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $644 million in the three months ended March 31, 2018, up from $442 million from the corresponding period of 2017.
Yet the result was below the $815 million achieved in the fourth quarter of 2017, mostly due to the lower nickel and copper sales achieved in the March quarter of this year after the company decided to place non-competitive mines in Canada on care and maintenance.

“We are focused on further improving the competitiveness of the base metals business optimizing margins and maintaining the optionality of nickel in the scenario of higher demand...

Published

Danielle Assalve

April 26, 2018

03:10 GMT

São Paulo