Profit boost for Anglo American

London-based mining giant Anglo American says net profits have risen 27% due to increased metals production and higher commodity prices.

Profits were $4.3bn (£2.17bn) in the first half of the year, up from $3.4bn in the same period a year earlier.

The firm says it does not expect an economic slowdown in developing countries to hurt its business.

Instead, it forecasts strong demand from China and other emerging countries to offset the downturn elsewhere.

The firm, which has courted controversy for plans to develop a platinum mine in Zimbabwe, produces base metals like copper, coal, diamonds and ferrous metals like iron ore.

It is the world's fourth largest mining firm.

"Despite the macro outlook for the second half remaining uncertain due to the evident slowdown in many developed economies, this is offset by continued strong demand, particularly from developing economies," said Cynthia Carroll, the firm's chief executive said.

Anglo American also owns UK asphalt firm Tarmac. Last year it said it wanted to sell the firm but has been forced to delay the sale because of the credit crisis.

RELATED INTERNET LINKS
Anglo American
The BBC is not responsible for the content of external internet sites