BHP, the world's biggest miner, has reported a 19% jump in second-half earnings on surging sales of copper, iron ore and coal, and flagged future growth to strong Asian demand.
BHP said near-term commodity prices were expected to remain high, if more volatile, and forecast big volume growth in petrol, base metals, iron ore and stainless steel.
It said its customers did not expect a global credit squeeze to have a big impact on demand for raw materials, particularly in China and India.
Full-year net profit before one-offs was a record $13.68 billion, up from $10.15 billion, while reported net profit was $13.42 billion.
BHP said the result was driven by record annual production for eight major commodities, while prices were at three-decade highs.
'In 2007, real prices for all our major commodities remained at or near their highest levels since the 1970s as Chinese demand for raw materials continued,' the company said.
