The Rio Tinto Board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore production joint venture in Western Australia.
The Rio Tinto Board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore production joint venture in Western Australia.
Australian media state that the deal between the two companies is off due to anti-competition concerns among customers including China.
But in a statement Rio said its Board held a meeting on Monday 4 October 2010 at which a range of issues were discussed including the joint venture.
It said: “The Board acknowledged recent communications from regulators that indicate potential obstacles to achieving clearance for the joint venture.
“This includes the recent receipt of interim reports from the Japan Fair Trade Commission and the Korea Fair Trade Commission, and ongoing discussions with the European Commission and the Australian Competition and Consumer Commission.”