Vale reports Q3 revenue $10.62B, consensus $11.07B

Reports Q3 pro forma adjusted EBITDA from continuing operations $4.48B vs $4B last year. “We continue to make significant progress on our strategic and business priorities. In Iron Solutions, we remain on track to meet guidance, with increased production year-to-date, enhanced average quality and a reduced production-to-sales gap in the quarter. In Energy Transition Metals, we are progressing with an asset review to achieve operational excellence. The transition of the Voisey’s Bay mine to underground and the maintenance activities will support sustainable asset performance. In Copper, the successful ramp-up of Salobo III contributes to a higher total output and lower unit costs. We are advancing toward our long-term objectives, by starting loading tests at our 1st briquetting plant and signing two new agreements for the development of Mega Hubs. We have also completed the decharacterization of Dique 2, and B3/B4 dam’s emergency level was reduced to 1, in line with our new framework for dam management established in 2019. We will continue delivering on our strategy to turn Vale into a reference in creating and sharing value to all of our stakeholders.” commented Eduardo Bartolomeo, Chief Executive Officer.