| Brazilian mining company Vale SA reported lower-than-expected net profit in the second quarter as prices for iron ore fell to a four-year low and the company continued to write off assets it acquired during the last decade's commodity boom.
Vale, the world's biggest iron-ore producer, said Thursday its second-quarter net profit was $1.43 billion. That was up from a year earlier, when a currency depreciation distorted Vale's financial results, but less than the $2.08 billion median estimate of 11 analysts surveyed by FactSet...............................................Full Article: Source
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