Rio de Janeiro-Vale S.A. reported a stellar performance for the fourth quarter and year ending Dec. 31, 2010. Vale said it was the best ever annual result, characterized by all-time high figures for operating revenues, operating income, operating margin, cash generation, and net earnings. Fourth-quarter net earnings were US$5.92 billion on sales of $15.2 billion, up from the year-ago $1.52 billion and sales of $6.54 billion. Full-year net income was $17.3 billion on sales of $46.5 billion, up from the prior year’s $5.3 billion on sales of $23.94 billion. Fertilizer results reflected the start-up of Vale’s new phosphate project in Peru. Fourth-quarter fertilizer revenues were $769 million, up from the year-ago $108 million, while full-year revenues were $1.85 billion, up from the prior year’s $413 million.
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