Vale S.A. reported a net income of $2.4 billion for the third quarter of 2024, a decrease from the $2.9 billion recorded in the same period last year. The company’s net operating revenue also saw a decline, amounting to $9.6 billion compared to $10.6 billion in the previous year.
Despite the dip in financial figures, Vale demonstrated strong operational performance, with iron ore production reaching 91 million tons. This represents a 5% increase year-over-year and marks the highest quarterly output since 2018.
The company also reported significant increases in its copper and nickel outputs during the quarter. Vale highlighted improvements in operational efficiency and reductions in iron ore production costs, indicating efforts to mitigate the impact of lower revenues.
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