Brazilian iron ore miner Vale has reported a rise in earnings to $ 20 m in the second quarter of 2018 compared with $ 16 m last year with revenue rising 19 % YoY to $ 8.62bn , thanks in part to record iron ore output together with high prices . Despite a national truckers ' strike , iron ore sales were up 5.8 % compared with the same period in 2017 , helped by production from the company ’s newly developed S11D mine , the largest of its kind in the world , which alone saw output rise 23 % . High Chinese investment helped Brazilian iron ore prices grow 22 % in Q2 .
Brazilian iron ore miner Vale has reported a rise in earnings to $76m in the second quarter of 2018 compared with $16m last year with revenue rising 19% YoY to $8.62bn, thanks in part to record iron ore output together with high prices. Despite a national truckers' strike, iron ore sales were up 5.8% compared with the same time in 2017, helped by production from the company’s newly developed S11D mine, the largest of its kind in the world, which alone saw output rise 23%. High Chinese demand helped realised iron ore prices grow 22% in Q2.