Mining & Profits: Vale Posts Net Loss for 2014 Fourth Quarter

Some highlights of the report pertaining to iron ore include:

• Iron ore supply of 331.6 Mt3 , including Vale sourced production record of 319.2 Mt4 , mainly due to the record production in Carajás of 119.7 Mt.
• Record sales volumes of iron ore and pellets (313.6 Mt) and gold (351,000 oz), and the highest sales volume of nickel (272,000 t) since 2008.
• Reduction of US$ 1.2181 billion in expenses across all businesses in 2014. − SG&A5 decreased by US$ 234 million (21.1%). − Pre-operating and stoppage expenses5 decreased significantly by US$ 747 million (45.9% reduction) from US$ 1.628 billion in 2013 down to US$ 881 million in 2014.
• Granting of the operating license to expand the N4WS mine pit located in Carajás, supporting our iron ore production plan for 2015 and 2016.