BHP’s CEO Says M&A on Agenda After Investment Pledge

BHP Billiton Ltd. Chief Executive Officer Marius Kloppers said takeovers are on his agenda even after pledging to spend $80 billion on BHP’s own projects.

Regulatory concerns are impeding iron-ore takeovers by the world’s largest mining company, though BHP’s potash, copper, and oil and gas businesses aren’t constrained in the same way, Kloppers told the Australian Broadcasting Corp.

Reporting record first-half profit, Kloppers last week unveiled a program to develop BHP’s mines and oil fields after three investments worth a total of more than $100 billion were knocked back in the past four years. Still, he said on today’s program that while surging commodity prices have led to some “very high” asset valuations, those conditions may not last.

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- Posted: 2011-02-19 21:14:42

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