Vale S.A., a leading global producer of iron ore and nickel, has reported its interim financial results for the third quarter of 2024. The company's consolidated interim income statement revealed a net operating revenue of $9,553 million, a decrease from the previous year's $10,623 million. Despite the drop in revenue, Vale's net income increased to $2,391 million from $2,857 million in the same period last year. The financial results were impacted by various factors, including costs of goods sold, operating expenses, and financial income and expenses. The report also highlighted significant events such as the divestment of a 50% equity interest in Vale Oman Distribution Center and the acquisition of Aliança Geração de Energia S.A. Additionally, the company addressed...Show More

Vale S.A., a leading global producer of iron ore and nickel, has reported its interim financial results for the third quarter of 2024. The company's consolidated interim income statement revealed a net operating revenue of $9,553 million, a decrease from the previous year's $10,623 million. Despite the drop in revenue, Vale's net income increased to $2,391 million from $2,857 million in the same period last year. The financial results were impacted by various factors, including costs of goods sold, operating expenses, and financial income and expenses. The report also highlighted significant events such as the divestment of a 50% equity interest in Vale Oman Distribution Center and the acquisition of Aliança Geração de Energia S.A. Additionally, the company addressed its obligations related to the Brumadinho dam failure and the Samarco dam failure, including the recognition of additional provisions and the negotiation of a definitive settlement. The interim financial statements were authorized for issue by the Board of Directors on October 24, 2024, and incorporated by reference in the registration statements filed with the U.S. Securities and Exchange Commission.