Xstrata Profit Jumps 27% on Price Gains; Koniambo Costs Rise
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Xstrata Plc, the largest exporter of power-station coal, said first-half profit climbed 27 percent after commodity prices advanced. The capital cost of the Koniambo nickel project leapt 30 percent to $5 billion.
Net income rose to $2.92 billion, from $2.29 billion a year earlier, the Zug, Switzerland-based company said today in a statement. Xstrata posted a 23 percent gain in sales to $16.8 billion and proposed an interim dividend of 13 cents a share.