first_img MINER Xstrata beat expectations to more than quadruple its pre-tax profit in 2010, the firm said yesterday, on the back of a runaway rise in commodity prices.Xstrata’s pre-tax profit rose to $6.6bn (£4.1bn) up from $1.53bn a year ago, on revenues that rose 34 per cent to $30.5bn. Copper prices, which have jumped 30 per cent in the last 12 months, contributed $2.2bn to Xstrata’s $7.7bn operating profit, which was 75 per cent up on last year. The firm unveiled a higher than expected dividend payment for the year, to 25 cents compared to eight cents a year ago, in a demonstration of the board’s confidence in its plans for the year. Sanford Bernstein analyst Paul Galloway said the dividend “puts down a marker for cash return for other mining companies”.Xstrata repeated its plans to increase overall production by 50 per cent before the end of 2014, and said it was on track to continue 20 new or expanding projects in 2011. Xstrata said last week that thermal production had been hit by the flooding in Queensland, Australia, but chief executive Mick Davis said yesterday the outlook was less bleak. “As we stand at the moment we do not see any significant impact on 2011 results,” he said. Mining rivals Rio Tinto and BHP Billiton are due to report results on the 10 and 16 February respectively. whatsapp Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL KCS-content Sharecenter_img whatsapp Xstrata posts $6bn profit as copper soars Tuesday 8 February 2011 8:57 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam last_img

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