Low iron ore prices hit Chileanminer's profitability

摘要

Chile’s CAP Mineria’s net profitsin the first nine months of the year fell 83%to $17.3 million, as lower iron ore prices cutincome despite higher shipments and recordproduction, according to results issued lateFriday.The company, the mining arm of Chileaniron and steel group CAP, shipped 9.6 millionmt of iron ore, up 14% from 8.4 million mt inthe same period last year, as production hit arecord 10.9 million mt.