SYDNEY--Growth in China's demand for mineral commodities could slow substantially over the coming years, forcing miners to focus on cutting costs, outgoing BHP Billiton Ltd. (BHP, BHP.AU) Chief Executive Marius Kloppers said in an interview televised Sunday.
Over the next five years, Chinese demand for minerals could slow to growth of between 2% and 4% a year from 15% to 20% a year, Mr. Kloppers told the Australian Broadcasting Corp. in a joint interview with Chief Executive-elect Andrew Mackenzie. Mr. Kloppers didn't mention specific minerals.
"That means the suppliers will be able to respond and meet demand and, therefore, you have to be low-cost and you have to take into account that price is not going to help you here," Mr. Kloppers said.
His comments come after the world's biggest mining company by market capitalization on Wednesday announced that Mr. Kloppers will step down in May and be replaced by Mr. Mackenzie, the current head of the company's nonferrous metals division.
Mr. Mackenzie reiterated comments made Wednesday that he'll be committed to improving productivity at the miner, saying it will be a "top theme" of his tenure.
Write to Ross Kelly at ross.kelly@wsj.com
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(END) Dow Jones Newswires
February 23, 2013 20:39 ET (01:39 GMT)
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