29 Nov 2012

No rise soon in iron ore: BHP

1:09 pm on 29 November 2012

BHP Billiton told shareholders at its annual meeting in Sydney on Friday that it does not expect any significant increase in iron ore prices soon.

AAP reports the company, Australia's biggest export earner, has seen a year of heavy falls.

Chairman Jac Nasser also said that China's growth rate would not continue at the same pace, but that was expected.

A more sustainable rate would follow in line with how other major economies have developed.