|
Vale's Q1 net profits seen down by 45%
|
According to report, Brazilian largest iron ore maker, Vale, said its Q1 profit may drop 45% on lower prices and heavy rain on mines hurt the output.
Its net income is likely to be US$3.8 billion ended on March 31st, according to the estimation from analysts. It is about 45% down year-on-year and 19% down from previous quarter.
The heavy rain affected the iron ore output by 2.3% to 1.6 million tons and the company declared the force majeure in January. The net ales may fall about 3.9% to US$12.7 billion.
News Date
4/25/2012 10:58:30 AM
reported by
Judy Lin
|
|
|
|
|