According to the
China Iron and Steel Association (CISA), the aggregate net profit of
China's key steel mills reached RMB 56.4 billion ($8.8 billion) in H1 of the current year, just about 25 percent of the aggregate net profit figure recorded by the big three miners -
Vale,
BHP Billiton and
Rio Tinto - in the same period.
Australian miner
BHP Billiton saw a net profit of $13.1 billion in H1, up nearly 100 percent year on year. Additionally, the financial reports of the other
mining giants
Brazil-based
Vale and
Australia's
Rio Tinto showed their net profits in H1 respectively reached $13.3 billion and $7.6 billion, up 150 percent and 30 percent year on year. The total net profit of the three miners for the given period reached $34 billion (RMB 217.6 billion).