By Jeffrey T. Lewis
SÃO PAULO–Vale SA said Thursday its profit declined in the second quarter from a year earlier after a decline in the price of iron ore and copper towards the end of the period reduced revenue.
The miner said net income attributable to Vale shareholders fell to $6.2 billion in the period, from $7.6 billion a year earlier. Net operating revenue declined to $11.2 billion from $16.5 billion in the second quarter of 2021.
The company reported adjusted earnings before interest, taxes, depreciation and amortization from continuing operations of $5.3 billion compared with $11.2 billion a year earlier.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
July 28, 2022 18:04 ET (22:04 GMT)
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Read More: Vale 2Q Net Income Declined on Lower Price of Iron Ore, Copper