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People & Business :: Earnings/Finance
Vale's fertilizer business swings to loss on lower prices, sales
12:33 PM MST | March 3, 2014 | Ian Young
The fertilizer business of mining company Vale (Rio de Janeiro) posted negative adjusted Ebitda of $105 million in the fourth quarter of 2013 compared with positive adjusted Ebitda of $144 million in the corresponding quarter of 2012. The loss reflects lower sales prices and weaker sales volumes, partly offset by a cost-cutting program. The fourth-quarter 2013 adjusted Ebitda figure does not include a $2.3-billion asset impairment, related to Vale's abandonment last year of the Rio Colorado potash project in Argentina, that the company charged to its...
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