Samarco regains profitability in first quarter under Vale and BHP control

The company reported a significant turnaround with a net income of $329.2 million, a stark contrast to the net loss of $347.9 million reported in the same period last year.

Samarco's net sales reached $434.8 million, marking an 18% increase year-on-year. Additionally, EBITDA-- earnings before interest, taxes, depreciation, and amortization-- rose by 7% to $249.8 million compared to the previous year.

The company also noted an uptick in production, with pellet output rising to 2.3 million tons this quarter, up 12% from 2.1 million tons in the first quarter of last year. Pellet sales likewise improved, increasing by 13% year-on-year to 2.5 million tons.