BHP to Post Near-Record Profit, Driving $39 Billion Potash Bid

BHP Billiton Ltd., the world’s largest mining company, may post a near-record annual profit tomorrow, helping to drive its $39 billion hostile takeover offer for Potash Corp. of Saskatchewan Inc.

BHP, which announced a bid for Potash Corp. last week, will post net income of $13.3 billion for the year ended June 30, according to the average estimate of 15 analysts compiled by Bloomberg. That compares with last year’s $5.9 billion and 2008’s record $15.4 billion.

Higher prices for copper, nickel and aluminum have boosted profit after last year’s earnings plunged as the global recession sapped demand for raw materials. Chief Executive Officer Marius Kloppers, 47, is seeking to add potash mines to metals, coal and energy units, betting on surging demand for fertilizer as global food needs grow.

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- Posted: 2010-08-23 22:36:29

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