Brazilian mining giant Vale reported a net loss in 2014 as iron-ore prices fell by nearly half, the local currency weakened and impairment charges continued to haunt the company.
Vale, the world's largest iron-ore producer, reported a fourth-quarter loss of $US1.85 billion ($A2.35bn), compared with a loss of $6.45bn in the last three months of 2013.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) tumbled by two-thirds from the fourth quarter a year earlier to $US2.19bn.
Vale's sales fell 31 per cent on the year to $US9.07bn.
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