Mining companies' earnings season starts off poorly, with Vale setting an example first; Rio and BHP probably won't look much better.

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Vale Q1 EBITDA Misses Forecast on Cost Pressures
Vale reported first-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $39 billion in a filing dated April 28, falling short of the market expectation of $41 billion. The
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