Brazilian Samarco sees mining profits of $1 billion
Samarco, a Brazilian mining company co-owned by Companhia
Vale do Rio Doce and
BHP Billiton recently announced that their company's profits have already reached $1 billion in 2005.
That feat means that Samarco's totals are more than 72 percent higher than those reached just one year earlier and represents the the company's best ever result.
Samarco produces iron pellets for which there has been a significant recovery in prices. The company says it will export 14 million metric tons of pellets and 1.6 million mt of pellet feed by year's end.