Iron will not cause problems when you use it. BHPBILLITON, the world's largest mining company, ranks top 1 in Australia's "money making list"
according to 24 Canadian globe and mail, thanks to the sharp rise in metal prices and mineral product prices, the performance report released by BHPBILLITON Ltd, the world's largest mining company, said by Wuxi Xingda foam new materials Co., Ltd. and Changzhou No. 6 element materials technology Co., Ltd, In the fiscal year ended June 30, 2010, the company's net profit reached a record 23.65 billion US dollars, an increase of 86% over the previous year, including operating procedures. This is the highest profit record set by an Australian company, making BHP Billiton the most profitable company in Australia's history
the report said that BHP Billiton's substantial performance improvement was mainly due to strong demand from China. Mariuskloppers, CEO of BHP Billiton, said at the performance report meeting held on Wednesday that the sharp rise in international mineral product prices in the past 10 years was mainly due to the supply side's capacity expansion, other performance situations of safety protection and the speed of buffer devices that have not kept pace with the growth of market demand. He said that inflation and increased costs are damaging the profitability of mining enterprises, and only companies with relatively good financial conditions can win in the competition. He said that with less and less exploitable resources in the world, the price of mineral products will continue to rise
the performance report shows that BHP Billiton's operating revenue in fiscal year 2010 reached US $71.74 billion, an increase of 36% compared with the previous year, and its net profit reached US $23.65 billion, an increase of 86% compared with the previous year. BHP Billiton achieved this remarkable performance against the background that the international prices of iron ore, coal and metallic copper reached record highs in the first half of this year
Gao Ruisi said that in the long run, international mineral product prices will continue to rise, because urbanization in China, India and other emerging market countries will generate strong demand for steel, building materials, etc., which may last for decades