| Author (Person) | MacNamara, William, Tait, Nikki |
|---|---|
| Series Title | Financial Times |
| Series Details | 26.1.10 |
| Publication Date | 26/01/2010 |
| Content Type | News |
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The European Commission has opened a formal antitrust investigation into Anglo-Australian mining companies Rio Tinto and BHP Billiton under the EU rules on restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union - TFEU), January 2010. Rio Tinto and BHP Billiton are respectively the second and third largest producers of iron ore in the world. The proposed joint venture between Rio Tinto and BHP Billiton would combine the parties' iron ore assets in Western Australia. The Commission will in particular examine the effects of the proposed joint venture on the worldwide market for iron ore transported by sea (so-called "seaborne iron ore"). Steelmakers in China, Japan and Europe have all opposed the tie-up between the mining companies, saying the venture will tilt the global iron ore market further in favour of three producers, who dominate the seaborne iron ore trade. |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
