Vale’s fourth-quarter and full-year earnings witnessed a significant fall as lower iron ore prices and reduced sales volumes made a dent.
The company’s Ebitda reached $4.1bn during the fourth quarter, up 9% on the previous quarter, but 40% down year on year.
For 2024 overall, earnings stood at $15.3bn, 22% down on the year prior.
The average realised iron ore fines price was down 21% year on year at $93 per tonne, driven by lower benchmark prices, although 3% higher quarter on quarter, it said.
