World's biggest miner BHP posts soaring second half profit

BHP Billiton reported today a dramatic rebound in half-yearly profits on the back of soaring iron ore prices and improved productivity.

The underlying profit of USD 3.2 billion and earnings before tax of USD 9.9 billion for the last six months of 2016 exceeded expectations.

"This is a strong result that follows several years of a considered and deliberate approach to improve productivity and redesign our portfolio and operating model," chief executive officer Andrew Mackenzie said.