Reported 1 day ago
Brazilian miner Vale announced a significant loss of $694 million in the fourth quarter, a drastic shift from the $2.4 billion profit recorded a year prior. This downturn was attributed to impairments on its Canadian base metals operations, specifically $1.4 billion on nickel operations and $540 million on the Voisey's Bay expansion. Despite a 5% drop in quarterly iron ore output, Vale also revealed a reduction in its 2025 capital expenditures from $6.5 billion to $5.9 billion, alongside plans for dividends and a share buyback.
Source: YAHOO