SAO PAULO (Reuters) – Brazilian miner Vale reported on Wednesday a $694 million loss in the fourth quarter, compared to a $2.4 billion profit a year earlier, and far below the $1.95 billion profit expected by analysts in a LSEG poll.
Vale, one of the world’s largest iron ore producers, also cut its planned spending for this year and announced fresh dividends and a share buyback.
(Reporting by Andre Romani; Editing by Kylie Madry)
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