A difficult fourth quarter brought Vale's full-year loss to $12.1 billion, the biggest suffered by a listed Brazilian company since at least 1986, according to data compiled by market-analysis firm Economatica.
Vale reported a fourth-quarter net loss of $8.57 billion, its worst ever as a private company, as weak commodity prices and hefty writedowns heaped further pressure on the world's largest producer of iron ore.
The loss, reported early Thursday, is Vale's fifth in the past six quarters, with the company hit by a collapse in the price of its principle profit driver, iron ore, just as it entered a period of heavy investment in large projects.
Falling far short of a loss of $56 million predicted by analysts in a Reuters poll, the result is Vale's worst since at least 1997 when it was privatized.
It comes despite record iron ore and nickel production, highlighting treacherous market conditions.
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