Vale's earnings fell by 12.92% year on year in the fourth quarter of 2017, the Brazilian miner said late on Tuesday February 27, due to lower prices and reduced shipments amid margin optimization strategies.
The company's fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) amounted to $4.11 billion, against $4.72 billion a year before. But fourth-quarter Ebitda was virtually stable sequentially, compared with adjusted Ebitda of $4.19 billion in July-September 2017.This stability occurred despite the reduction of $5.30 per tonne in its iron ore price realization from October to December, which was offset by higher base...