http://marketrealist.com/2015/05/vales-1q15-earnings-take-hit/...

http://marketrealist.com/2015/05/vales-1q15-earnings-take-hit/

"Vale’s net loss for 1Q15 was $3.12 billion compared to a loss of $1.85 billion in 4Q14. A major part of the loss was due to the non-cash impact of the depreciation of the Brazilian real (or BRL). The majority of Vale’s debt is denominated in US dollars and BRL depreciation, to the tune of 20.8% quarter-over-quarter. This led to more losses than gains on costs."

http://www.mining.com/weak-iron-ore-prices-cause-vale-1-44-billion-loss-in-q3-58124/

Vale's CFO must be a "clown" as well according to our resident genius, spuza12:

“Because the functional currency of Vale is the Brazilian real, every time our total debt when expressed in the functional currency increases in value, we record a loss,” Chief Financial Officer Luciano Siani said in a video posted on the company’s website. “We acknowledge the challenging times.”

http://www.moneymorning.com.au/20150417/why-the-fortescue-metals-group-share-price-fell-today.html

Another clown!!

Unfortunately, the issues don’t stop here for FMG.
Since the US Dollar Index was trading at 87 US cents, I’ve detailed analysis to readers why I expect to see a significantly stronger US dollar this year and next. We’re looking at a US Dollar Index shooting far beyond 160 US cents.

http://www.********.au/2015/06/17/heres-why-fortescue-metals-group-limited-was-slammed-yesterday/

MF, more clowns!

What does it mean? Investors may see troubling similarities between Fortescue and Arrium based on their large, US dollar denominated debt piles and relatively high cost of production