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Vale (VALE +1.1%) posts better-than-expected Q4 iron ore output, rising 3.1% to 85.5M metric...

Vale (VALE +1.1%) posts better-than-expected Q4 iron ore output, rising 3.1% to 85.5M metric tons from 82.9M in the year-ago period, beating production gains reported earlier by Australian rivals BHP and RIO. Vale says the increase reflects below normal rainfall in Brazil and better productivity at its Carajas iron ore complex. The higher output allowed Vale to benefit from a rally in iron ore prices.
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