The mining company Samarco recorded a net loss of US$ 1.05 billion in the third quarter, with impacts from exchange rate variation and expenses related to repairs for the dam collapse in Mariana, against a net loss of US$6.44 billion in the same period of 2024, the company reported this Monday (10).
The loss was achieved despite positive operational gains and a resumption of production in line with the company’s schedule, a joint venture of Vale with BHP.
“The result was mainly impacted by a negative financial result of US$730.8 million, mainly due to exchange rate variation on liabilities (US$465.7 million) and the recognition of financial expenses related to repair obligations (US$319.7 million)”, said Samarco, in a financial report.
The company is still dealing with in 2015, but increased sales as production grew 64%, to 4.1 million tons of fines and iron ore — the highest volume since the resumption of its activities in December 2020.
Sales of iron ore pellets and fines also totaled 4.1 million tons, an increase equivalent to 108% compared to the same period in 2024.
The company recorded an increase of 52% compared to the same period last year.
The average price of pellets sold by Samarco reached US$120.9 per ton in the third quarter, compared to US$147.5 in the same period last year.
The price decline, according to the company, primarily reflects a broad decline in iron ore pellet premiums, driven by weaker global demand from the steel industry for high-quality materials and a more cautious macroeconomic outlook.
“Market dynamics continue to reflect geopolitical tensions and persistent uncertainties surrounding international trade policies — especially protectionist measures and political discussions involving the United States, China and their trading partners,” the report said.
In a conference with investors, the director of Strategy, Finance and Supplies, Gustavo Selayzim, said that “in the short term, we have some challenges, but in the long term we maintain a solid forecast that the market will have a good demand for pellets”.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) totaled US$230 million, an increase of 47% compared to the same period last year.
