PROFITS soared at mining giant BHP Billiton in the six months to the end of 2013, the group reported last night, as the economic recovery boosted demand.
Net profit for the half-year jumped 83 per cent to
Revenues increased 5.7 per cent while expenses excluding finance costs were slashed 15 per cent to
Iron ore production hit a record high of 108m tonnes while coal output also hit a new high of 68m tonnes, both in
And the group remains hopeful that the economic picture will continue to improve, boosting its fortunes for the rest of the year.
"In the developed world,
"The balance of risk to global growth is skewed to the upside, particularly given the broad based alignment of macroeconomic indicators in the major developed economies."
BHP's Australian shares opened up 1.56 per cent.
Most Popular Stories
- Ukraine Crisis Limits Losses in Gold, Silver
- Big Earthquake Rumbles Northern California
- Chiquita, Fyffes to Form Top Banana
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- FAA to Appeal Court Decision Allowing Commercial Drone Use
- China's Money Rate Drops on Slowdown Concern
- New Chat App, Yik Yak, Causes Problems for Students
- Mt. Gox Files for Bankruptcy in U.S.
- Obama Meets with Ukraine Prime Minister Wednesday
- Rand Paul Tops Presidential Straw Poll at Conservative PAC Conference