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MeneameBrazilian iron ore giant Vale (NYSE: VALE) posted net income of US$3.71bn in Q2, up 369% year-on-year, according to the company's quarterly results released late Thursday after markets closed.
Operational revenues totaled US$9.93bn, a 95.3% increase from US$5.08bn in the same period last year.
Adjusted Ebitda rose 223% to US$5.58bn compared to US$1.73bn in 2Q09.
Iron ore sales rose to 59.1Mt from 50.7Mt.
Results in Q2 are the first to reflect the implementation of the new pricing policy for iron ore.
Rio de Janeiro-based Vale, the world's largest iron ore producer, is due to hold a conference call on the financial results on Friday (July 30).
To read the full results report, go to this link
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