BHP Billiton posts record annual net profit

BHP Billiton, the world's largest mining company, has posted a record annual net profit of $10.45 billion for the year ended June 30 thanks to rising copper and iron ore prices. As previously reported by SteelOrbis, BHP Billiton was expected to report a net profit of $10.2-10.6 billion for the aforementioned period. “Commodity markets remain strong, underpinned by supply restrictions and a generally constructive global economy,” the company said in a statement.