News Summary: BHP Annual Profit Down 35 Pct.

The Associated Press

COMMODITIES CRUNCH: BHP Billiton Ltd., the world's biggest miner, said its annual profit plunged more than a third as a slowdown in global economic growth led to weaker prices for key commodities.

SHAKY GROUND: In the short-term, BHP expects more volatility in commodity markets amid weakness in manufacturing and construction. In the medium term it expects supportive economic policy and a broad growth, particularly in China.

DIG DELAY: BHP will delay a plan for a massive $30 billion expansion of its Olympic Dam uranium and copper mine in southern Australia.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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