Brazilian miner Vale posted a net profit of $2.84 billion for Q3 2023, against $892 million for the previous quarter.
Under the same comparative basis, net sales revenues increased by 9.8 percent to $10.62 billion, production costs increased by 7.9 percent to $6.92 billion and the EBITDA increased by 7.8 percent to $4.18 billion.
By volume, sales of iron ore fines increased by 9.4 percent to 69.7 million mt, sales of ROM (Run of Mine) ore were stable at 2.23 million mt, and sales of pellets declined by 2.2 percent to 8.61 million mt.
The average realized prices of the ferrous product were $105.10/mt (9.4 percent increase) for fines and $161.20/mt (0.5 percent increase) for pellets.
According to the company, the main drivers for the increased EBITDA were higher volumes and unit prices.
During Q3 2023, iron ore and pellets sales of Vale were equivalent to 83 percent of its sales revenues, against 80 percent in the previous quarter.
