Brazilian miner Vale reported a $694 million loss in the fourth quarter of 2022, a significant decline from the $2.4 billion profit in the same period the previous year. This result fell short of the $1.95 billion profit anticipated by analysts, as per a LSEG poll. Vale, a leading global iron ore producer, has reduced its capital expenditure plans for 2023. The company also announced dividend payments and a share buyback.