Vale's profits took a dive in the 2nd quarter

Brazilian mining giant Vale is, however, pleased with the results after six months of fluctuating revenues.


The net profits of Brazilian mining giant Vale took a dive in the 2nd quarter, declining more than 80 percent down to a total of USD 424 million, writes Lloyd's List, but according to a video presentation on its website, featuring the company's CFO, Vale seems pleased with the result. The major mining company expects Chinese demand to grow in the second half of the year.

Vale had an operational revenue of USD 11.3 billion in the second quarter 2013, and an operational profit of USD 3.6 billion.

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