Deals
China Seen Creating Its Own BHP to Boost Purchases Abroad
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A record wave of consolidation in China’s mining industry is creating bigger companies that will have the muscle to compete with the likes of BHP Billiton Ltd. for overseas acquisitions.
Even after Chinese domestic mining mergers reached $19.6 billion last year, double the tally for 2011, the government wants to see more. Easier access to capital and less Chinese competition for assets may make companies including China Minmetals Corp. and Aluminum Corp. of China more robust overseas buyers, said Deloitte & Touche LLP.