Chile CAP's iron ore export increases 12.3% Y-o-Y in 2011

SANTIAGO (Scrap Monster): Chilean steel and iron ore producer CAP (IPSA: CAP), said that its iron ore export advanced sharply by 12.3% year-on-year to 11.469 million tons in 2011. The company exported 10.213 million tons of iron ore in 2010.

The company's revenue increased sharply by 39.8% year-on-year to US$2.787 billion in 2011 and ordinary profits gained 45.2% to $1.142 billion.

CAP also reported that, its net profits decreased by 23.4% to US$630.194 million in 2011 due to exchange currency.

Among them, 9.591 million tons were for export markets, up by 3.9% and 1.878 million tons were for domestic market, surging by 90.9%, both compared to that in a year ago.