The Brazilian iron ore and pellets producer, Samarco, has posted a net loss of $1.519 billion for Q1 2025, comparable to a net profit of $2.152 billion for Q4 2024.
In additional to Samarco’s status of judicial reorganization, due to the collapse of the Fundão Dam in 2015, the result was severely impacted by a negative financial result of $1.821 billion in Q1 2025, against a positive figure of $652.9 million in Q4 2024, on both occasions affected by exchange rate variation liabilities, negative at $1.441 billion in Q1 2025, and positive at $2.758 billion in Q4 2024.
Net revenues declined by 2.74 percent to $400.4 million, production costs declined by 2.95 percent to $157.8 million, the gross profit declined by 2.61 percent to $242.6 million, and the operational profit declined by 90 percent to $219.5 million.
In terms of volume, pellet sales by the company declined by 6 percent to 2.7 million mt, while iron ore fines sales increased by 125 percent to 100,000 mt.
Having concluded the Phase 2 Project in 2024, Samarco began the preparatory work for Phase 3, which will bring the company to 100 percent of its production capacity.