Vale posts 6% rise in Q3 earning on high iron ore prices

Vale saw its adjusted earnings grow by 6.4% year on year in the third quarter amid higher prices and lower expenses related to the Brumadinho tailings dam disaster early this year.

The Brazilian miner’s adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the July-September period totaled $4.60 billion, which compares with $4.33 billion a year earlier. Vale’s reported an adjusted Ebitda of $3.10 billion for the second quarter of this year. In the third quarter, the miner recorded $225 million worth of expenses arising from the deadly breach of the tailings dam in Brumadinho in January. This compares with a negative impact of...

Published

Felipe Peroni

October 25, 2019

06:45 GMT

São Paulo