VALE - Metals And Mining Giant Vale Misses Q3 Revenue Estimates On Weak Iron Ore Production | Benzinga
Vale S.A. (NYSE: VALE) reported Q3 FY23 net operating revenue of $10.62 billion, missing the consensus of $10.937 billion.
Iron ore production fell 4% Y/Y to 86,238 thousand metric tons on lower run-of-mine production from the Paraopeba complex and lower output from Serra Norte.
Nickel production fell 19% Y/Y owing to the planned continued transitioning of Voisey’s Bay to underground operations and additional maintenance at the Sudbury refinery.
Nevertheless, Pellet production was up 11% Y/Y to 9,175 thousand metric tons on higher production at S11D and increased pellet feed output from Brucutu with ...