https://www.engineeringnews.co.za
Iron Ore
Iron Ore
iron-ore

Vale's third-quarter profit slips but beats expectations

27th October 2023

By: Reuters

  

Font size: - +

SAO PAULO - Brazilian miner Vale reported on Thursday a 36% year-on-year decline in third-quarter net profit, landing above analyst estimates.

Vale, one of the world's largest iron-ore miners, reported profit of $2.84-billion, while analysts polled by LSEG expected $2.55-billion.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $4.18-billion, below analysts' estimates of $4.72-billion. Revenue came in at $10.62-billion, missing analysts' expectations of $10.98-billion.

Over the quarter, the miner said its iron ore prices had averaged $105.1 per metric ton, up from the $92.6 per ton in the year-ago quarter.

Last week, Vale said its iron-ore output had dropped nearly 4% in the quarter due to a production snag at a key mine.

Edited by Reuters

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (10/05/2024)
10th May 2024 By: Martin Creamer
Magazine round up | 10 May 2024
Magazine round up | 10 May 2024
10th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.43 0.49s - 230pq - 2rq
Subscribe Now