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Coal impairment, tumbling iron ore hurts Vale in September quarter

Vale saw profits halve in the September quarter as lower iron ore prices and production misses in all major divisions other than pellets combined with the US$2 billion impairment of its coal business.

Coal impairment, tumbling iron ore hurts Vale in September quarter Coal impairment, tumbling iron ore hurts Vale in September quarter Coal impairment, tumbling iron ore hurts Vale in September quarter Coal impairment, tumbling iron ore hurts Vale in September quarter Coal impairment, tumbling iron ore hurts Vale in September quarter

Vale's Voisey's Bay operation in Canada

Net income in Q3 amounted to US$3.9 billion, down $3.7 billion versus Q2, while adjusted EBITDA came in 20% below consensus expectations at US$6.9 billion.