Brazil Mining Giant Vale Q3 Profits R$15 Billion, More Than Double Q3 2019

The company has been growing since the collapse of the Brumadinho dam in January 2019, which left a trail of destruction in the region - with 237 dead and 33 missing - and has led to an increase in restrictions for the operation of ore tailing dams in the country.

RIO DE JANEIRO, BRAZIL - Vale has posted a net profit of R$15.6 billion (US$3 billion) in Q3 2020, more than double the R$6.5 billion recorded over the same period last year. The improved result was mainly due to the 26 percent increase in iron ore prices and the 20 percent increase in sales volume in the period.

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