Miner Vale to look toward copper after Q2 miss

July 27, 2017

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Brazilian miner Vale on Thursday it would seek out fresh copper mining options and stop expanding nickel production capacity after second-quarter net income plunged on forex losses, rising costs and weaker iron ore prices.

Net income tumbled 99% to $16-million from $1.1-billion a year earlier, far below an average estimate of $421-million.

Category: General