Miners benefit from rising commodity prices

Two of the world's largest mining companies, BHP Billiton and Anglo American, reported skyrocketing profits, fueled by rising commodity prices.

BHP's half-year profit was $ 3.24bn (£ 2.6bn), up from $ 412ma a year earlier. Chief Executive Officer Andrew McKenzie said the strong results also boosted productivity. Anglo American reported full-year profit of $ 1.6 billion compared to a $ 5.6 billion loss in 2015

McKenzie (BHP) said these are the results of a five-year plan aimed at "improving performance and redesigning the portfolio and operating model." Some goods have increased in value, in part due to increased demand from China. Iron ore has risen in price by more than 80% and coal by almost 300%.