Vale Records Strong Nickel Production in Q3

Mineweb reported that during the third quarter of 2013, Vale SA (NYSE:VALE) recorded strong nickel production, putting out 62,000 tonnes, a 27.5-percent increase from the 49,000 tonnes it produced in the year-ago quarter.

The company’s production of other commodities, including iron and gold, was also strong.

As quoted in the market news:

During the third quarter of the year, Vale reported a net income of $3.51 billion or 68-cents per share, more than double the net income of $1.64 billion or 32-cents per share reported during the third-quarter 2012.

Vale’s adjusted earnings rose to $5.88 billion in the third quarter from $4.28 billion for the third-quarter 2012.

However, for the first nine months of 2013, Vale reported a net income of $7 billion or $1.37 per share, down from net income of $8.1 billion or $1.58 per share for the first nine months of last year.

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