2019 proved a difficult year for Vale (VALE), with the Brumadinho dam rupture and subsequent litigation and settlement charges negatively affecting its earnings for the year. Since the fall of the Brazilian economy in 2015 and 2016, Vale has recovered significantly and rallied almost 600% in 2.5 years. Shares are trading down 37% YTD, with mining operations affected worldwide, although demand and strong liquidity should see Vale through the crisis.
Ore Production and Operations
Source: Vale 2019 Report
78% of total revenues come from iron ore and pellets, with the remainder in base