Brazilian miner and iron ore producer Vale saw its net profit in Q4 2021 spike over 634%, year-over-year, from $739 million in Q4 2020 to $5.4 billion.
Net revenues in Q4 2021 reached $13.1 billion, 6.2% up, year-over-year.
Adjusted EBITDA in Q4 2021 was $6.9 billion, 23.5% down, year-over-year.
Vale said iron ore output capacity by late 2021 reached 340 million mt/year, up from 322 million mt/year from late 2020.
The company produced 315.6 million mt of iron ore in 2021, 5.1 % up, year-over-year.