Brazil’s Vale posts 15% decline in Q3 net profit

SAO PAULO/RIO DE JANEIRO (Reuters) – Brazilian miner Vale, one of the world’s largest iron ore producers, said on Thursday its third-quarter net profit fell 15% from a year earlier.

Vale posted a $2.41 billion net profit for the quarter ended in September, while analysts polled by LSEG expected a $1.65 billion profit.