Brazil's Vale, the biggest iron ore miner in the world, on Thursday announced a strong earnings boost for the fourth quarter and over 2016 as a whole. The company cited record production and a rally in metals prices. Profits before interest, taxes, depreciation and amortisation were $4.8 billion in the final quarter, the highest since the same quarter in 2013, and up from $1.4 billion in the same period in 2015, the company said. The market expectation, according to a survey by Bloomberg, had been for $4.4 billion in profits.
Copyright AFP (Agence France-Presse), 2017
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