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CVRD posts record quarter on weaker currency, asset sales

BRAZIL'S CVRD, the world's number one iron ore miner, has posted a record first-quarter net profit of 660 million reias (US$287 million), fuelled by a weak domestic currency and asset sales.

Greg Tubby

The results were a 3.3% improvement on last year's 630 million reias profit. The real's 10% slump against the US dollar accounted for 76% of the strong performance, with the sale of stakes in Cia Siderugica...

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