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The world's top miner, BHP Billiton, is yielding gold from its China ties, with record profits and Olympic sponsorship minting its Beijing presence. BHP, which made $15.4 billion last year on the back of booming China business, is supplying the gold, silver and bronze to make Games medals. Group Executive Karen Wood says the Australian giant's Olympic ties matter in the nation of 1.3 billion. SOUNDBITE: KAREN WOOD, CHIEF PEOPLE OFFICER, BHP BILLITON 12:44:39-49 "We felt that we needed to demonstrate our commitment to China. China is a critically important market for our business. In fact, 20% of our revenues come from this country." Some China-watchers suggest the Middle Kingdom's need for minerals may have peaked, but BHP is confident despite July's 10% drop in prices. Over the next 20 years, Chinese construction is expected to need 3 billion tonnes of steel, equal to Australia's iron ore output over the last half century -- a fact BHP recognizes. SOUNDBITE: KAREN WOOD, CHIEF PEOPLE OFFICER, BHP BILLITON 12:50:31-51 "You don't get to deliver an agenda of industrialization like China is delivering without the products that BHP Billiton is providing, so if we think about the iron ore, the manganese, the nickel that we supply in very large quantities into this country, all of those products are essential." BHP is bidding around $127 billion for rival Rio Tinto in what would be the second biggest takeover ever, a move opposed by Rio as too cheap and by Chinese steel mills as giving them too much control over supply. Dan Sloan reporting.