The Brazilian mining company Vale recorded a net profit of $3.72 billion for the fourth quarter of 2022, compared to $4.46 billion for the previous quarter and $5.35 billion for the fourth quarter of 2021.

Net sales revenue in the fourth quarter of 2022 amounted to about $11.94 billion, compared to $9.93 billion in the third quarter of 2022 and $13.10 billion in the fourth quarter of 2021. EBITDA was $5.00 billion, $4.00 billion and $6.86 billion, respectively.

During the fourth quarter of 2022, Vale’s sales volume of iron ore was 81.2 million tonnes, at an average of $95.6/t, and 8.79 million tonnes of pellets, at an average of $165.6/t.

For the third quarter of 2022, the company’s sales were 65.4 million tonnes of iron ore at $92.6/t and 8.52 million tonnes of pellets at $194/t. In the fourth quarter of 2021, the company’s sales were 81.75 million tonnes of iron ore at $107.2/t and 10.35 million tonnes of pellets at $182.6/t.

The company’s net operating income decreased by 12.3% y/y in this period – to $11.9 billion.