Vale closes the second quarter with historic production at Carajás and strong generation of cash flow
Vale announced on this Thursday, July 27th, is financial result for the second quarter of 2017. Among the highlights of the period is the record production of the Carajás mines, in Pará, and in coal. “The second quarter of 2017 was very strong in terms of production for Vale. We had records and the best quarter in iron ore in our history’, comments Finance and Investor Relations executive director, Luciano Siani Pires, in the video below.
Despite the large fall in the prices of iron ore in the beginning of the quarter, the generation of cash flow kept strong: the adjusted EBITDA was of US$ 2.7 billion. As a result US$ 1.5 billion were paid in dividends to our shareholders. “The most important is that the generation of cash flow was very strong in the quarter. For the future, results should improve even further, since S11D, our main project, is increasing its production”, Siani states.
This Thursday at 10 a.m., the CEO Fabio Schvartsman and the executive directors shall participate in a conference with investors and journalists. Access the links below.
Vale is undergoing an important transformation. A company restructuring plan was approved which shall bring greater independence to the company’s administration and greater protection and increase in power to minority shareholders. To execute the operation, Vale shareholders must decide on the conversion of their preferred shares into ordinary ones.
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