[Ferro-lloys.com]Higher sales and lower costs were the main factors behind the excellent results achieved by Vale in the third quarter of 2013. The company obtained net earnings of US$ 3.5 billion, about 8 times higher than in 2Q13 and around 120% superior than in the same period of last year.

 

We had an EBTIDA (a measure of cash flow generation) of US$ 5.8 billion in the quarter and US$ 16 billion in the 9 months of the year, which is 9% greater than the EBTIDA for the same period of 2012. “This result was achieved thanks to a combination of very positive factors, in terms of production volumes and costs reduction, what led to a greater cash generation,” said Vale’s Chief Financial Officer (CFO), Luciano Siani. Watch the video in which Siani analyses the quarterly results.

 

 

Sustaining our position as global leader in iron ore production, we had the second best quarter in our history in terms of volume. Our iron ore output in 3Q13 was nearly 86 million metric tons. Our production in Carajás was particularly strong, up 36% from the second quarter of 2013.

 

Vale also achieved record output of copper and gold – almost 95,000 metric tons and 75,000 ounces, respectively. In the following infographic, you can see where our mines and pellet plants are located across the world and you can find out more about the minerals we produce.

 

 

The combination of high quality with low operational costs remains one of our most important competitive advantages in the global market. We are working to build an extremely efficient, with very low corporate, operational and investment costs, which is presenting significant results. In this quarter, our total costs fell by 7% when compared with the first nine months of 2012, representing a cash saving of US$ 2 billion for the company. In the year to date, Vale has generated US$ 16 billion in cash, around 9% more than in the same period of 2012. “We believe the company is extremely well positioned even in a challenging and uncertain environment to continue generating good results for shareholders and continuing growing with a very focused investment program,” said Siani.(source: http://www.vale.com/)