Brazilian miner and iron ore producer Vale has announced its financial results for the first quarter of 2022.
The company’s net profit in the first quarter decreased by 19.6 percent year on year and was down by 17.8 percent quarter on quarter to $4.45 billion.
In the first quarter, Vale’s net revenues totaled $10.8 billion, decreasing by 17.5 percent quarter on quarter and down by 13.6 percent year on year, while its adjusted EBITDA in the given quarter was $6.5 billion, down by 5.7 percent quarter on quarter and falling by 22.6 percent year on year.