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BHP Billiton and Rio Tinto have noted with disappointment the statement today by the
German Federal Cartel Office (FCO) that its current intention is to prohibit the companies’
proposed iron ore production joint venture in Western Australia.
The German regulatory process continues and the parties are expecting to receive a
formal notification next week.
The parties continue to believe that the joint venture is pro-competitive and will increase
the supply of iron ore. However, both BHP Billiton and Rio Tinto acknowledge the
concerns expressed by some regulators and the obstacles to achieving clearance for the
joint venture. No decisions about next steps have been taken at this stage while regulatory discussions
continue.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa. |
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