Vale Ends Losses as Oil Rout Helps Get Iron to China Cheaper

  • Miner reported a surprise increase in Ebitda from year ago
  • Sales of $5.72 billion beat $5.61 billion average estimate

Vale SA had its first profit in three quarters as the best-performing major iron-ore miner this year benefited from cost cuts, rebounding prices and a stronger local currency. Shares gained.

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