BHP says may do more deals like Rio iron ore jv
LONDON, Oct 29 (Reuters) - BHP Billiton (BLT.L: Quote, Profile, Research) (BHP.AX: Quote, Profile, Research), the world's biggest mining company, is considering further joint ventures such as its 50-50 iron ore deal with Rio Tinto (RIO.L: Quote, Profile, Research)(RIO.AX: Quote, Profile, Research), its chief executive said on Thursday.
BHP was always on the lookout for opportunties, Marius Kloppers said in response to a question from a shareholder about the firm's stance on mergers and acquisitions following the collapse of its bid for Rio.
"Our strategy basically constrains us to large, low-cost long-life, expandable assets that are export oriented, and these assets only come to market very, very seldom," Kloppers told the firm's shareholders' meeting in London.
"You shouldn't expect that we do transactions of smaller companies with smaller assets, but from time to time we're going to do things like the Rio Tinto JV."
(Reporting by Eric Onstad; Editing by David Cowell)
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