07 August 2013 23:08 [Source: ICIS news]
HOUSTON (ICIS)--Vale had underlying earnings of $3.3bn (€2.5bn) in the second quarter of 2013 despite slow global economic growth and declining prices for minerals and metals, the Brazilian miner announced on Wednesday.
Underlying earnings were up about $200m from Q1’s total of $3.1bn.
Operating revenues were $11.3bn, little changed from Q1’s $11.2bn.
During the quarter, Vale sold a phosphate exploration site to Eagle Star Minerals and a nitrogen plant to Petrobras. The mining company also signed a five-year deal with an Indian cooperative to supply the group with rock phosphate.
($1 = €0.75)
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