 Strong global demand helped drive BHP Billiton's profits |
Soaring demand for raw materials from China has helped to push Anglo-Australian mining giant BHP Billiton to record full-year profits. Net profits after one-off payments rose to $3.38bn (�2.03bn) in the year to June from $1.9bn last time.
China's boom was "instrumental" in pushing commodity prices to their highest levels for years, BHP said.
It also said that raw material demand from Europe had increased as economic activity picked up.
Meanwhile, US demand for metals remained solid as the country's economy continued its slow recovery.
Chinese story
Chris Lynch, BHP's chief financial officer, said sales to China of commodities such as copper, nickel, gas and iron ore, reached $2.4bn - or just under 10% of company turnover.
"We are very well placed in regard to China. We fully expect there will be bumps along the way, but in the long term we believe the Chinese story is a good one," Mr Lynch told the BBC's World Business Report.
BHP's total sales rose to $24.94bn, up from $17.51bn in the previous year.
Looking ahead, the firm announced plans for a $2bn capital management programme, which could include a share buy-back.
But it added that timing of such a plan would depend on market conditions.
With world growth strong, heavy demand from China and low inventory levels driving current growth, the firm said it expected commodity prices could be sustained at higher levels than seen in recent years.
One-Minute World News 
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