Vale Posts Quarterly Loss Amid Declining Iron-Ore Prices
This article is for subscribers only.
Vale SA, the world’s largest iron-ore producer, reported a second consecutive quarterly loss as prices fell and Brazil’s weakening currency increased debt costs. Shares fell.
Vale’s fourth-quarter net loss narrowed to $1.85 billion, or 36 cents a share, from a record loss of $6.45 billion, or $1.26, a year earlier, the Rio de Janeiro-based company said Thursday in a statement before markets opened.