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"You shouldn't expect us to do transactions with smaller companies with smaller assets," Marius Kloppers said at the company's annual general meeting.
Kloppers said the company's acquisition strategy was constrained by its goal of acquiring large-scale assets with significant mineral reserves. Those kind of assets rarely come to market, he said.
Kloppers highlighted BHP's plans to invest $5.8 billion to create an iron ore joint venture with Rio Tinto PLC (RTP) as the type of deal the company prefers.
Company Web site: www.bhpbilliton.com
-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com
(END) Dow Jones Newswires
10-29-09 0853ET
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