Mining giant BHP Billiton unveiled record iron ore output growth figures, better than rival Rio Tinto's last week and solid results in Energy segment, adding a new spin to the protracted USD 170 billion takeover battle between the two.

As per report BHP Billiton third quarter iron ore output rose 22% to a record 28 million tonnes against Rio's 16% growth, although that came from a much higher base. BHP's petroleum division grew output by 19% to 32.73 million barrels of oil equivalent. BHP has had some setbacks in common with Rio. Torrential rain in the Australian state of Queensland pushed down coking coal output by 25% while lower ore grades at its giant Escondida copper mine in Chile reduced production by 8%.

Mr Marius Kloppers CEO of BHPB, while responding to Mr Tom Albanese CEO of Rio Tinto last week deriding BHP as a nominal player in the global sector, said that “Rio are energy short and will not benefit from the 80% margin in that business. I do not know what Mr Tom was thinking.”

Mr Kloppers said that Rio had been outplayed by BHP in share price performance, volume growth and total return for shareholders. He added that “It must be terrible for them that, every quarter, BHP outperforms and that has been the case for seven years.”

Rio is now trading at less than the value of BHP's 3.4 for one share offer, indicating some investors expect the bid to succeed.