VALE3 Vale SA

By Rogerio Jelmayer

SAO PAULO--Brazilian mining company Vale SA (VALE) swung to net profit in the fourth quarter as rising commodity prices, mainly for iron ore, helped the company expand its revenue.

The company reported net profit Thursday of $525 million in the fourth-quarter, compared with a net loss of $8.57 billion a year earlier.

Its net operating revenue rose 64% to $9.69 billion.

Vale's adjusted earnings before interest, taxes, depreciation and amortization more than tripled to $4.77 billion from $1.39 billion a year earlier.

Net debt ended the year at $25.07 billion, down slightly from $25.23 billion at the end of 2015.

-Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com

(END) Dow Jones Newswires

February 23, 2017 04:57 ET (09:57 GMT)

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