Quarterly net loss attributable to common stock was $4.08 billion, or $3.47 per share, compared with a loss of $2.85 billion, or $2.75 per share, last year.
The company has now at least 60 days to come up with a plan to address and fix pollution problems tied to its operations Tubarão, one of Vale's most important ports.
However, the company said it remains committed to having a presence in Greece and has budgeted $155 million in development spending at the Olympias project.