Business News IN BRIEF: Xstrata Profits Soar 60 Per Cent to $1.7bn

The miner Xstrata was confident about 2006 as announced a 60 per cent rise in annual profit to $1.7bn (pounds 1bn) yesterday. The group also unveiled a coal acquisition targeting US import markets. Switzerland-based Xstrata said it was paying $1.7bn for Glencore International’s one-third share of the Cerrejon coal operation in Colombia.