BHP Billiton says still looking to sell some assets

BEIJING, June 5 Thu Jun 5, 2014 8:04am EDT

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BEIJING, June 5 (Reuters) - Global miner BHP Billiton is still looking to simplify its portfolio by selling some assets and its current strategy is not to acquire other companies, the chief executive of the Anglo-Australian miner said on Thursday.

Andrew Mackenzie, speaking to reporters in Beijing, also acknowledged the firm's expansion of its iron ore business was too rapid and that it did not focus as much as it should have done on the underlying expansion of the overall business.

Mackenzie said the firm was still looking to sell its Nickel West assets.

Global miners, including BHP, Anglo-Australian rival Rio Tinto and Brazil's Vale, have all banked on sustained increases in iron ore demand from China, ramping up capacity and boosting available seaborne supplies. (Reporting by David Stanway; Editing by Mark Potter)

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