Iron Ore Leaders Reap High Half-Year Profits Sown by Extraordinary Iron Ore prices, Demand

摘要

Analysts' speculation has been that the worlds larger iron ore companies would post record quarterly profits after this year's unprecedented iron ore price increases and the strong market demand. Cia. Vale do Rio Doce (CVRD) on Aug. 10 reported gross revenues of 3.721 billion US dollars, a 53.3 percent increase over the previous quarterly record of 2.428 billion US dollars in the fourth quarter of 2004. CVRD's operating profit, measured by adjusted earnings before interests and taxation, reached 1.771 billion US dollars, 112.9 percent more than in 2004.