RIO DE JANEIRO, Brazil, February 25, 2021 -- Vale has released its financial statements for the fourth quarter of 2020 for the fiscal year ended December 31, 2020.
Highlights for Q4 2020:
All iron ore mines suspended in 2019 were partially restarted in the fourth quarter of 2020, an important milestone toward the goal of 400 million tons of capacity by the end of 2022;
For the fourth quarter of 2020, pro forma adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $9.103 billion, up $2.879 billion from the previous quarter.
Adjusted pro forma EBITDA for the second half of 2020 and the full year of 2020 is $15.327 billion and $21.954 billion, respectively;
The strong performance of Ferrous Minerals Business, as a result of 17% higher realized prices (US$1.598 billion) and 26% higher sales volumes (US$1.364 billion).
The ferrous metals business performed strongly with a 17% increase in actual prices and a 26% increase in volume, which had a positive impact on EBITDA of $1.598 billion and $1.364 billion, respectively;
LME nickel and copper reference prices averaged 12% and 10% higher in Q4 compared to Q3, respectively, resulting in higher real nickel and copper prices, which had a positive impact on EBITDA of $113 million and $57 million, respectively;
Copper production guidance was updated from 390,000 tons to 360,000 tons to 380,000 tons;
In February 2021, Vale reached a settlement agreement with the Brazilian government to repair the environmental and social damage caused by the No. 1 mine dam failure, which is crucial to ensuring a prompt, fair, clear and legal compensation process;
In December 2020, Vale reached an agreement with the federal government of Brazil to extend the franchise of the company's main railway in Brazil for 30 years, from 2027 to 2057, which was an important milestone in Vale's risk reduction operations.
The Board of Directors of Vale approved a dividend payment of 4.26 reais per share (ADR of $0.77 per share) to shareholders based on the results of the second half of 2020;
More highlights and details on Vale's fourth quarter 2020 results and the company's financial statements.
Eduardo Bartolomeo, CEO of Vale, said, "2020 is another solid step towards our goal of becoming a more reliable operator in the mining industry.
By reaching the Brumatinu global settlement, improving safety standards and restarting some operations at all iron ore mines that were suspended in 2019, we have further reduced business risks.
Vale is well positioned to deliver even more solid results in 2021."
ABOUT PUDA:
PUDA is specialized in automatic quantitative packaging machine for powder, granule, particle, pelleted, sliced, flaked, bulk materials.
Qinhuangdao Puda Electronic Co., Ltd , which provides automatic intelligent packaging solutions, is an automatic equipment manufacturing enterprise integrating R&D, manufacturing and sales of equipment. With a high-tech team engaged in the research and development and manufacturing of automation equipment, adhering to the concept of knowledgeable and dense, sincere service, from design and development, production and manufacturing to after-sales service, to professional technology, first-class quality service in all industries; Up to now, the strength and product quality of the company have been highly recognized by the industry. Welcome friends from all walks of life to visit, guidance and business negotiations.
PUDA machinery has been exported to more than 50 countries and regions.
Our customers are from different industries from mineral, metallurgy, agriculture, Industrial chemical to food.
We have built long-term cooperation with many of those leading brands with our service.
