SAO PAULO, Oct 30 (Reuters) - Vale, one of

the world's largest iron ore miners, posted on Thursday a

third-quarter net profit that landed above analysts' estimates,

while also cutting its full-year cost projections for copper and

nickel.

Rio de Janeiro-headquartered Vale posted a $2.69 billion net

profit for the July-September period, up 11% year-over-year and

above the $2.10 billion expected by analysts polled by LSEG.

Adjusted earnings before interest, taxes, depreciation and

amortization (EBITDA) stood at $4.4 billion in the period, a 21%

increase, also beating estimates of $4.1 billion.

Vale released its sales and output data last week, with iron

ore production reaching the highest since the fourth quarter of

2018 at 94.4 million metric tons.

"Overall, Vale posted strong results, driven by better

realized prices in iron ore and byproducts, robust iron ore and

copper sales volumes, and lower cost and expense," Santander

analysts led by Yuri Pereira wrote in a note to clients.

The analysts said they expected a positive share reaction on

Friday. The results were released after the market closed on

Thursday.

Third-quarter net revenue rose 9% to $10.4 billion, with

Vale's main iron ore business rising 6%, while its base metals

unit - mostly copper and nickel - jumped 26%. Analysts had

projected $10.3 billion of revenue for the miner.

Vale also cut its estimate for all-in copper costs this year

to between $1,000 and $1,500 per ton, attributing the move to

higher gold prices, as gold is a byproduct of Vale's copper

production. The previous projection was between $1,500 and

$2,000 per ton.

The company also projected its all-in nickel costs between

$13,000 and $14,000 per ton, down from a previous range of

$14,000-$15,500 per ton, citing solid operational performance

and strong metals prices.