Yesterday (August 18), the world's largest mining company BHP Billiton reported earnings last fiscal year (as of June 30 this year) net profit reached a record level.
Because the machine to take advantage of soaring commodity prices,glue stick a substantial increase in the production, the last financial year, BHP Billiton's net profit reached 15.4 billion U.S. dollars (about 275.3 cents per share), compared with the previous year increased by 15%. The main profit came from its oil and iron ore business.glue gun However, analysts expect its net profit is still lower than the 159 billion dollars.
BHP Billiton said that continuous large-scale industrialization in China to provide solid support for the global economy, demand for raw materials remains strong. In the short term, despite volatility will increase, but the company expects prices to remain relatively high. The company also admitted that the near term global economic growth will slow down, which will affect demand for its products.
February of this year, BHP Billiton to the global mining giant Rio Tinto, another issue of convertible offer, according to the then market value of about 147 billion U.S. dollars. The end of May, BHP Billiton officially submit their applications to the European Commission, hopes its acquisition of Rio Tinto deal to antitrust review by the European Union. However, Rio Tinto, BHP Billiton has been that the low bid does not agree merger offer.
In order to prevent BHP Billiton's hostile bid for Rio Tinto is accelerating its asset disposal program, this year plans to sell assets worth 100 billion dollars, while the total asset value of the final sale of at least 150 billion dollars. Rio Tinto recently said that the company is accelerating the disposal of a subsidiary of Alcan Packaging, and U.S. coal branch operations. Rio Tinto also consider its U.S. subsidiaries of Coal IPO, currently the company's IPO has proposed to the U.S. Securities and Exchange Commission registered.