Financial PerformanceAverage Fe content at 62.1% was worse than expected and fines quality premium came in at -$1.1/t, which is explained by Vale’s opportunistic sale of high-silica volumes, potentially affecting profit margins.
Legal And Regulatory RiskThe federal ruling adds uncertainty over the final outcome of the Mariana case and potential for higher settlement amounts.
Legal And Regulatory RiskA substitute federal judge has ordered Samarco, Vale, and BHP Brasil to pay R$47.6b for collective moral damages resulting from the collapse of the Mariana dam.