Vale returns to profit, eyes ‘dramatic opportunity’ for nickel – by Staff (Mining Journal – March 2, 2021)

https://www.mining-journal.com/

Adjusted EDITDA rose 20% to $4.2 billion, after $4.8 billion in expenses of which $3.9 billion was related to the R37.7 billion (US$7 billion) Brumadinho settlement reached in January.

Vale’s ferrous minerals division achieved its second largest adjusted EBITDA of $8.8 billion, thanks to a 17% rise in realised prices and 26% higher sales volumes compared with the third quarter.

It put its iron ore fines and pellets C1 cash cost ex-third party purchases up slightly, quarter-on-quarter, at $12.70/t, while the cash cost (ex-ROM, ex-royalties) FOB was $15.30/t.

The fourth quarter had marked the partial resumption of all iron ore fines operations halted in 2019 following the Brumadinho disaster which killed 270 people, with Vale saying the partial resumption was a significant milestone on its path to achieving 400Mtpa capacity by the end of 2022.

For the rest of this article: https://www.mining-journal.com/profit-amp-loss/news/1405679/vale-returns-to-profit-eyes-%E2%80%98dramatic-opportunity%E2%80%99-for-nickel

 

Comments are closed.