March 27, 2019 / 10:17 PM / 25 days ago

Brazil's Vale profits surge in quarter before dam burst

SAO PAULO, March 27 (Reuters) - Brazilian iron ore miner Vale said on Wednesday its fourth-quarter profits jumped nearly fivefold in the last full quarter before a deadly dam burst in January that has taken about a fifth of its production offline.

Vale posted fourth-quarter profit of $3.786 billion, compared with $771 million a year earlier. Revenues rose to $9.8 billion from $9.17 billion, boosted by higher iron ore prices and lower freight costs. (Reporting by Christian Plumb; Editing by Lisa Shumaker)

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