Brazil’s Vale sees its third quarter profits rocket by 250 per cent

first_img BRAZILIAN mining giant Vale yesterday said third-quarter profits rose more than 250 per cent from the year earlier to their highest level ever as the company benefited from rising iron prices and higher output.Vale, the world’s largest iron ore miner, reported a record net income of 10.55bn reais (£3.9bn) that beat analysts estimates as demand for iron remains strong among emerging market nations such as China.“These are the best results that Vale has ever reported in its history, marked by record operation revenues … net profit and cash generation,” the firm said in a statement.Earnings before interest, taxes, depreciation and amortisation, a key cash-generation indicator known as EBITDA, rose 164 per cent to 15.92bn reais compared to the same quarter a year earlier.Vale had already released production volumes for the quarter, which rose 24 per cent from a year earlier to 82.6m tonnes – its second highest iron output ever and its highest since the global financial crisis took hold.It invested $7.62bn in the first nine months of the year, excluding acquisitions, out of a total of $14.2bn planned for the year. Share Wednesday 27 October 2010 8:41 pm Brazil’s Vale sees its third quarter profits rocket by 250 per cent by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img KCS-content whatsapp Show Comments ▼ whatsapp Tags: NULLlast_img