BHP Billiton Limited
(ASX:BHP) and Rio Tinto Limited
(ASX:RIO) could sell up to $30 billion in shares to cash up and buy the assets of distressed industry rivals.
Leading analysts are tipping the equity raising as the mining slowdown pinches all but the biggest fish in the sea.
Slowing growth in China and sinking commodity prices are forcing most players in the sector to cut costs, scratch dividends and sell assets so many are ripe for the picking.
Finance is also becoming increasingly hard to come by as companies become more and more leveraged and capital raisings by BHP and RIO could dilute available cash on the table even further increasing pressure on smaller rivals.
BHP reported a net profit of $3.74 billion for the 2015 financial year.
