Samarco posted a net loss of $1.05 billion, even though sales soared. company

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Although the company, a joint venture between the two companies, made operating profits as planned and restarted production, it was in the red. got it and BHP.

“The results were impacted by a negative financial statement of USD 730.8 million, primarily due to foreign currency fluctuations in debt (USD 465.7 million) and the recognition of finance charges related to repair obligations (USD 319.7 million),” Samarco said in the financial report.

The company is still dealing with the fallout from the collapse of one of its dams in the Marianas (MG) in 2015.However, production increased by 64%, with 4.1 million tons of fines and iron ore — This is the highest amount since resuming activities in December 2020.

Sales of iron ore pellets and fines also totaled 4.1 million tons, representing an increase of 108% compared to the same period in 2024.

The company recorded net revenue of US$440.2 million in the third quarter, an increase of 52% year over year.

The average price of pellets sold by Samarco reached USD 120.9 per tonne in the third quarter, compared to USD 147.5 in the same period last year.

The company said the price decline primarily reflected a significant decline in premiums for iron ore pellets, driven by weaker global steel industry demand for high-quality materials and a more cautious macroeconomic outlook.

“Market trends continue to reflect geopolitical tensions and persistent uncertainties surrounding international trade policy, particularly protectionist measures and political debates involving the United States, China, and their trading partners,” the report said.

In a meeting with investors, the Director of Strategy, Finance and Supply said: Gustavo Serajimsaid, “Despite some challenges in the short term, we maintain a solid forecast that there will be sufficient demand for pellets in the market in the long term.”