Brazil's CVRD achieved record net profits of 6.46 billion Reais (2.57 billion dollars) in 2004, 43.3 percent up on 2003, on strong expansion in global ores and metals demand with capacity increases in all of CVRD's productive areas, brought about both via expansion projects and acquisitions, in addition to gains in efficiency. With the bringing on stream of its Sosse go mine in north Brazil, the company moved into copper production and the world copper markets during 2004 in a move which should reduce Brazil's copper concentrates imports. It also took steps towards becoming a major coal producer via acquisitions in China and winning the rights to work the Moatize deposit in Mozambique.
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