October 24, 2019 / 9:29 PM / a month ago

Brazil's Vale reports 15% gain in quarterly net income

SAO PAULO, Oct 24 (Reuters) - Brazilian miner Vale on Thursday reported a 15% quarterly earnings gain as iron ore prices remained above year-ago levels, offsetting the effect of a production decline stemming from a fatal dam burst.

Vale’s net profit rose to $1.654 billion from $1.408 billion in the year-ago period, missing the $2.72 billion mean of analysts polled by Refinitiv.

Reporting By Christian Plumb and Roberto Samora Editing by Chris Reese

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