Vale, a global mining company in Brazil, registered a 35% decline in second-quarter net profit, down to US$1.38 billion, missing the US$1.85 billion analyst consensus due to financial impacts such as derivatives and taxes.

Conversely, net revenue rose by 19% to US$10.5 billion, supported by the highest second-quarter production volume since 2018.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached US$3.68 billion, up by 9% year on year, driven by stronger business segment sales that counterbalanced rising freight expenses, currency shifts, and other costs, though core earnings exceeded analyst projections when excluding specific non-recurring items.