Vale exceeded expectations from analysts when it posted a first-quarter net profit of US$1.78 billion Thursday.
The company credited the strong quarter to higher iron ore prices and a stronger Brazilian real.
Vale also said in its financial statement for investors that it successfully reduced costs and expenses across all of its business segments.
The company's first quarter net revenues totaled $5.7 billion, down $180 million compared to the fourth quarter of 2015.
Vale's nickel sales revenues for the first quarter of the year totaled $650 million, down $132 million compared to the fourth quarter of 2015.
But copper sales revenues were up by $22 million compared to the previous quarter, for a total of $435 million. The revenue growth was due to higher copper prices.
Vale announced in April it would suspend its popular Vale Concert Series in Sudbury, which doubled as a fundraiser for the Sudbury Food Bank.
The company said it has suspended the concert series due to a downturn in the mining sector, but could revive the series if economic conditions improve.
