World's biggest mining group extends profits record

The world’s biggest mining group BHP Billiton today posted its fourth set of record annual profits in a row, despite facing a squeeze from higher industry costs.

The Anglo-Australian company reported underlying profits of US$13.7bn (€10.1bn) for the year to the end of June, thanks to high commodity prices, which hit their highest levels since the 1970s, and strong demand from China.