BREAKFAST DEALS: Echoing mine shaft

BHP Billiton and Rio Tinto appear to be pursuing similar sell-off strategies, while IOOF could pitch a rival bid for Trust Company.

Mining giants BHP Billiton and Rio Tinto are almost moving in step with each other with their asset sales. IOOF Holdings is reportedly thinking about throwing a spanner into the works of the antagonistic merger discussions between Trust Co and Equity Trustees with a deal of its own. Meanwhile, with GrainCorp in agreement with Archer Daniels Midland, attention is shifting to the next Aussie agri-deal; Sumitomo Corp has given Aquila Resources some headaches and an Andrew Forrest nickel vehicle is apparently set to look for funding in the US.

BHP Billiton, Rio Tinto

Mining giants BHP Billiton and Rio Tinto are continuing their asset sale drives as the strategy of global miners shifts from construction expansion to consolidation and core assets.



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