IRON-ORE
The world’s most prolific producer of iron-ore, Vale, on Thursday reported first-quarter earnings that disappointed investors, sending its NYSE-listed stock falling as much as 5.4% in early trading.
The Rio de Janeiro, Brazil-based diversified miner reported net income totalling $2.49-billion for the three months ended March, significantly higher when compared with earnings of $514-million in the corresponding period a year earlier.
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