Company chairman Mick Davis said against a challenging background, Xstrata's businesses delivered a robust operating and financial performance, with a strong second half production and sales performance as market conditions improved. Overall, the group achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of more than $7 billion and net earnings of $2.8 billion.

"This solid result was achieved despite substantially lower commodity prices, and reflects the rapid and far-reaching actions taken by our commodity business management teams in response to the downturn," Mr Davis said.

n Details of Mount Isa's contribution will be published tomorrow.