Vale sees net profit dip 60% in 2009

摘要

Vale's net profit fell 59.5% year-on-year in 2009 on lower prices and lower sales volumes duringthe global economic crisis, the company said. The Brazilian diversified miner'srnnet profit dropped to $5.34 billion in 2009 from $13.21 billion in 2008.rnThe company attributed the decrease to "the great recession that caused one of the few episodes of global GDP contraction over the past 140 years of modern economic history".