Vale profit surges on strong production gains

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE) reports Q3 net income of $3.5B, more than double the year-ago total of $1.64B, and an 11% Y/Y revenue increase to $12.9B, the result of strong production volumes, resilient prices and declining cash costs.

EBITDA, the closely-watched measure of a company's ability to generate cash profit from operations, surged 37% to $5.88B.

Iron ore shipments rose 7% to 83.63M metric tons; the average price for bulk iron ore rose 12% to $105.58/ton.

Sales of coal, magnesium, nickel, copper, gold, silver, cobalt and potash also were higher.