Brazil-based miner Vale showed an increase in its earnings before interest, taxes, depreciation and amortization (Ebitda) of 32.41% year-on-year in the third quarter of 2020, because of strong prices backed by Chinese demand.
The miner's adjusted Ebitda reached $6.10 billion in the third quarter, up from $4.60 billion a year earlier. Adjusted earnings also soared from the second quarter's level of $3.37 billion. Results benefited from an increase in iron ore prices during the quarter, "after Chinese demand strongly responded to government stimulus, and supply-chain disruptions led to higher prices during the quarter on reduced availability of iron ore," Vale...