Rio says does not need BHP to capture China growth

SYDNEY (Reuters) - Global miner Rio Tinto (RIO.AX) (RIO.L) can exploit China's booming demand for resources on its own and does not need a merger with rival BHP Billiton (BHP.AX)(BLT.L), Rio Chief Executive Tom Albanese said on Monday.

Earlier, Albanese told a business luncheon that rival BHP Billiton's (BHP.AX)(BLT.L) $180 billion-plus (92.2 billion pounds) offer for Rio undervalued its assets and prospects. Rio has rejected the offer of 3.4 BHP shares for each Rio share as too low.

(Reporting by James Regan, editing by Jim Thornhill and Mark Bendeich)