SAO PAULO, Feb 22 (Reuters) - Brazilian miner Vale (VALE3.SA) , opens new tab reported on Thursday a 35% decrease in its net profit for the fourth quarter from a year earlier, hit by higher provisions related to its joint venture Samarco.

Vale, one of the largest iron ore producers in the world, posted a $2.42 billion net profit for the quarter ended in December, while analysts polled by LSEG were expecting a $4.15 billion profit.

A $1.2 billion provision related to charges from the 2015 collapse of a tailings dam that caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river hit Vale's bottom line.

BHP (BHP.AX) , opens new tab, which was Vale's partner in the Samarco joint venture that owned the dam, said last week it would record another $3.2 billion impairment related to the case.

Recurring adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 37% in the quarter from a year earlier to $6.33 billion, while analysts had estimated $6.32 billion.

Sales revenue rose 9.3% to $13.05 billion, versus $13.15 billion forecast by analysts.

Vale's earnings come as succession at the helm of the company is uncertain, with its board divided between re-electing current chief executive Eduardo Bartolomeo and choosing a new name.

(This story has been corrected to change the currency of LSEG estimates to US dollars from reais, in paragraphs 5 and 6)

https://www.reuters.com/markets/commodities/brazils-vale-fourth-quarter-profit-falls-24-bln-2024-02-22/