Vale says gov't sensitive to industry concerns on mining reform

Thu Apr 25, 2013 9:41am EDT
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RIO DE JANEIRO, April 25 (Reuters) - Brazil's Vale SA , the world's second-largest mining company, said on Thursday that the government has been attentive to the mining industry's concerns in drafting a regulatory reform.

Murillo Ferreira, Vale's chief executive, made the statement during a conference call on Thursday to discuss first-quarter results that were released the night before.

Company profits fell 18 percent from a year earlier but beat market expectations.

Vale is the world's largest producer of iron ore, the main ingredient in steel. It is the second-largest producer of nickel, which is used to make steel rust resistant.