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Brazil’s Mining Firm CVRD Increases Exports by 47%

The Brazilian mining company Vale do Rio Doce exported the equivalent to US$ 4.8 billion in the first semester, an increase in 46.8% in relation to the same period last year.

Investments made by CVRD in the first six months of 2006 reached US$ 1.9 billion, of which US$ 818 million were made in the second quarter.

Vale had record revenues and profits in the second quarter of the year. According to a statement released yesterday, August 2, by the company, gross revenues reached US$ 4.3 billion, an increase in 15.9% in comparison to the same period in 2005.

Net profit, in turn, was at US$ 1.9 billion, 15.3% more than in the second quarter of last year. According to the communiqué, "the performance is consistent with the trajectory of continued improvements in results started in the last quarter of 2002."

In the accumulated value for the first semester, the company’s revenues was of US$ 7.8 billion, against US$ 6 billion in the same period in 2005. The profit obtained was of US$ 3 billion, against US$ 2.3 billion in the first six months last year.

"The good perspectives for continuity of the solid performance in global economy sustain the expectations of increasing the current cycle of ores and metals, with positive implications in Vale’s performance, whose production in many segments of the mining industry is in continued expansion," informs the company.



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