Brazilian miner and iron ore producer Vale’s net profit in Q3 this year increased 33.6 percent, year-over-year, to $3.88 billion, the company said while releasing its quarterly results. Net revenues in Q3 this year grew 17.8 percent, year-over-year, to $12.6 billion.
Adjusted EBITDA in Q3 this year totaled $6.93 billion, 13.8 percent up, year-over-year. Adjusted EBITDA margin in Q3 this year slightly fell to 55 percent, from 57 percent in Q3 2020.
Vale said Capex spending in Q3 this year reached $1.24 billion, $109 million more than in Q2 this year. Vale said the increased Capex spending in Q3 over Q2 this year was due to investments at its Salobo III and Serra Sul projects, as well as higher maintenance investments on safety aimed at Torto dam and bigger costs at its coal business.