Vale exceeds expectations in second quarter.
Position | Financial report - Brief article |
Vale reported a net profit of $1.68 billion Thursday, thanks to higher outputs and cost cuts in its global business, the company reported to investors.
Net profits for the company's second quarter in 2015 were up 17.3 per cent compared to the same period last year.
Vale cut the cost of producing iron ore the biggest part of its business--from $ 18.3 per tonne in the first quarter of 2015, to $15.8 per tonne in the second quarter.
But the company's base metals business, which includes its Sudbury operations, decreased in the second quarter due to lower nickel prices.
Base...
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