Escondida´s Profit Jumps

Minera Escondida, a private Chilean mining company, posted a net profit of $937 million in the six months through June, an increase of 22 percent year-on-year. Escondida´s copper production dropped 3 percent in the second quarter but the firm has benefited from record high copper prices, fueled by strong demand from China. The company is controlled by Anglo-Australian mining company BHP Biliton.