July 31, 2019 / 10:53 PM / 18 days ago

Brazil's Vale posts surprise loss after new dam burst charges

SAO PAULO, July 31 (Reuters) - Brazilian miner Vale on Wednesday said it swung to a quarterly loss as the company announced more than $2 billion in fresh writedowns related to two deadly dam bursts the company suffered in a less-than four-year period.

Vale reported a second-quarter net loss of $133 million after a year-ago profit of $76 million and compared with a Refinitiv mean forecast of $2.84 billion. (Reporting By Christian Plumb; Editing by David Gregorio and Diane Craft)

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