Vale Q2 earnings down 20% on Brumadinho provision expenses

Brazilian miner Vale reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) down by 20.05% year-on-year in the second quarter of 2019, in a statement late on Wednesday July 31.

The fall in earnings was because of provisions made to pay reparations for a tailings dam disaster, although these were partially compensated by higher iron ore prices.
Vale’s adjusted Ebitda totaled $3.10 billion in the second quarter, compared with $3.88 billion in the corresponding period a year before.

In the first quarter, adjusted Ebitda showed a loss of $652 million because of provisions related to the disaster at a tailings dam in Brumadinho city, on January...

Published

Felipe Peroni

August 01, 2019

17:40 GMT

São Paulo