Vale Profit Quadruples, Tops Estimates on Iron-Ore Prices

Bloomberg reported that Vale SA’s (NYSE:VALE) fourth quarter profit has nearly quadrupled with increased prices for iron ore.

The market news is quoted as saying:

Net income climbed to $5.92 billion, or $1.12 a share, from $1.52 billion, or 28 cents, a year earlier, Rio de Janeiro-based Vale said late yesterday in a statement.

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