BHP Billiton will stay the course despite prevailing challenges in the short term and will even ramp up its expansion path, which runs in counter with shareholders' rumbling of a lull in acquisition moves.

Investors' sentiments are largely based on uncertain global events, which BHP chief executive Marius Kloppers admitted could soften market demands for the mining giant's commodity shipments.

Nonetheless, Kloppers remains upbeat that BHP's outlook gears toward north amidst volatility projected by analysts to loom over the European market, a restricting condition that can be compounded by slow downs in China, which is highlighted by the country's tightening credit environment.

The Australian reported on Thursday that iron ore market price should shed some value over the next two year as per the assessment issued by Macquarie on the same day but Kloppers appears unfazed by the gloomy prospect.

"Our long-term outlook ... despite these short-term challenges, remains unchanged ... long-term demand for our products will remain strong," the BHP chief declared during the annual shareholders' gathering held at Melbourne on Thursday.

His optimism, experts said, is anchored on BHP's record earnings of close of more than $23 billion for the first half of 2011 despite setbacks in the first quarter, which the company was then absorbed by soaring market prices for its products, mainly iron ore shipments.

Buoyed by immediate past indicators, BHP, according to Kloppers, will pour investments of over $80 billion, which he pointed out, will increase the company's stakes on more mining activities and petroleum projects.

Still, Kloppers is realistic that challenges are ahead for many global firms, including BHP, as he allowed that "none of us is able to say for certain how the markets will perform in the short run."

"One thing we can probably say is that higher volatility is likely to remain until issues surrounding the European sovereign debt markets are definitively addressed," Mr Kloppers said in his speech on Thursday.

On the question of investors' complaints, BHP chair Jacques Nasser assured those in attendance that any expansion the company undertakes will be exclusively motivated strategic consideration and added premium for shareholders.

Nasser downplayed concerns that BHP's acquisition blueprint may lead to cash depletion, an issue bolstered by recent acquisition of shale gas assets that saw the company forking out more that $20 billion in 2011 alone.

He asserted that every BHP move is attuned to raise its profit standing, shore up its credit rating and in the process, distribute higher dividends to investors.

Nasser, however, ruled out share buy backs in the near term, arguing that BHP needs to use its healthy cash flow in securing hefty returns in the future.