The outlook for global mining companies could not be any better. High iron ore, coal and other base metal prices are generating strong cash flows. Bowing to shareholder pressure to put this money to work, the world’s largest mining company, BHP Billiton Limited (NYSE:BHP), boosted its share buyback plan to $10 billion, from $4.2 billion (previously announced in November 2010). The company also announced an interim dividend per share of $0.46, a 9.5% jump compared to the year earlier period.

BHP’s rival, Rio Tinto Plc (NYSE:RIO) also recently announced a $5 billion share buyback program. While BHP intends to complete its share repurchase program by 2011, RIO has set a target of 2012 for winding up its program.

These stocks are on my investing radar and should be on yours.

Over the last week, the top performers in our newsletter service were:

• Itau Unibanco Holding SA (NYSE:ITUB) +9.6%
• Banco Bradesco SA (NYSE:BBD) +8.2%
• Bunge Limited (NYSE:BG) +7.9%
• Companhia de Bebidas das Americas (NYSE:ABV) +7.9%
• Brasil Foods (NYSE:BRFS) +7.5%