Brazilian company Vale, the world's largest producer of iron ore and nickel, reported a net loss of $1.642 billion in the first quarter of 2019 against a net profit of $1.590 billion a year earlier. For the first time in history, the company recorded an adjusted pre-tax loss, which amounted to 652 million dollars. Negative quarterly figures were caused by a dam break at the mine in Minas Gerais in January, killing about 300 people, and the company had to suspend the work of a number of mines. Vale reflected losses in the amount of 4.95 billion dollars in quarterly reporting. Revenue fell to $8.203 billion from $8.603 billion. During the earnings period, the mining concern increased capital expenditures to $611 million from $890 million in the same period last year.
Japan's economy falls in fourth quarter, recession risks grow04.02.2020
Australia bids for second flight from Wuhan as first batch of evacuees move to Christmas Island03.02.2020
China’s industry reports first profit decline in 4 years30.01.2020
Facebook surpasses Wall Street expectations with strong fourth quarter despite challenges