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.
Silver attracts buyers, gold price lifted out of historic net short positioning as large futures speculators cut overall bearish bets on commodities by 74%.