Brazilian mining giant Vale announced Thursday that it had a record-high net profit of 20 billion reais (12 billion U.S. dollars) in 2007, up 49 percent from 13.4 billion reais (8 billion dollars) in 2006.
The world second largest miner said its gross revenues amounted to 66.4 billion reais (33.7 billion dollars) last year, up 42 percent from 2006.
Vale said its merger with the Canadian miner Inco contributed 17.2 billion reais (10.3 billion dollars) to its operational revenue increase in 2007.
However, the depreciation of the U.S. dollar against the local currency Real led to losses of 4.6 billion reais (2.7 billion dollars) in its 2007 operational revenue.
Vale's exports topped at 12.5 billion dollars in 2007, up 29.4 percent from the previous year. Vale highlighted that its net exports amounted to 11.5 billion dollars, up 31.3 percent from 2006, and represented 28.8 percent of Brazil's trade surplus in 2007.
Source:Xinhua
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