Global firms take diversified path to boost demand

Multi-pronged approach, lower costs among strategies adopted by mining giants to offset flat demand in a sluggish market, reports Du Juan

A growing number of international mining giants are relying on diversified businesses to deal with flat demand for iron ore stemming from China's economic slowdown.

China's fast growth over the past years created huge demand for raw materials such as steel and iron ore, said Andrew Mackenzie, chief executive officer of BHP Billiton Ltd, the world's biggest diversified mining company, headquartered in Melbourne, Australia. But such demand will be hard to sustain, he said.