Vale Reports Record Losses For Q4 2015

Reuters reported that Brazillian miner Vale (NYSE:VALE) saw record losses of $8.57 billion for the fourth quarter of 2015.
As quoted in the publication:

The loss, reported early Thursday, is Vale’s fifth in the past six quarters, with the company hit by a collapse in the price of its principle profit driver, iron ore, just as it entered a period of heavy investment in large projects.
Falling far short of a loss of $56 million predicted by analysts in a Reuters poll, the result is Vale’s worst since at least 1997 when it was privatized.

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