Chinese boom pays off for BHP
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BHP Billiton has delivered the biggest profit ever achieved by an Australian company - a $US3.38billion ($4.73billion) whopper, up 78 per cent on last year.
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BHP Billiton, the world's largest miner has posted a record annual net profit of 10.45 billion US dollars and delivered an upbeat outlook amid unprecedented global demand for commodities.
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Rising oil prices are expected to hit China's growth rate this year.
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BHP Billiton, the world&#39;s biggest mining company, said global growth and economic activity in China are slowing, partly as higher oil prices curb spending.
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The Australian sharemarket finished sharply higher today as resource giant BHP Billiton helped lead the market to a recovery from yesterday&#39;s falls.
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The world&#39;s largest miner, BHP Billiton, yesterday said that high oil prices were affecting spending worldwide but China&#39;s demand for commodities over the longer term was heartening.
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BHP Billiton lifted its bid for mining giant Rio Tinto Wednesday, valuing its target at 147.4 billion dollars as it seeks a mega-merger to exploit the China-driven resources boom.
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Chinese shares continue their breakneck surge, pushing the main stock index past the 4,000 mark for the first time.
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Australian resources firm BHP Billiton is expected to post sharply higher earnings in the year to June aided by rising commodities prices, high production levels and continued strong demand from China, analysts said.
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BHP Billiton, the world&#39;s largest miner, approved the $990 million Spence Copper Project in northern Chile and a $575 million expansion of its iron ore operations in Western Australia.
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This firm peddles its sought-after wares to the world's great miners.
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Mining giant BHP Billiton today unveiled record full-year results after commodity prices soared on the back of surging demand in China.
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BHP Billiton&#39;s record-breaking profit was driven by China&#39;s seemingly insatiable demand for commodities. Picture:Bloomberg ...
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Aug. 18 (Bloomberg) -- BHP Billiton, the world&#39;s biggest miner, more than doubled second-half profit as Chinese demand boosted commodity prices. The company is considering returning as much as $2 billion to investors, including share buybacks.
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BHP Billiton&#39;s second appraisal well at its Shenzi discovery in the Gulf of Mexico has also struck oil, greatly increasing prospects for commercial development of the deep water field.
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The world&#39;s biggest mining group, BHP Billiton Ltd./Plc. said on Wednesday its second-half net profit more than doubled on strong demand for industrial raw materials, and forecast sustained high prices for commodities.
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SYDNEY: BHP Billiton sees continuing strong demand for its products despite China&#39;s attempts to slow economic growth, putting it in a strong position to increase earnings after a record US$3.51bil net profit for the June year, up from the previous year&#39;s ...