Steelmaker Assoc: Rio Tinto-BHP Iron Ore JV Should Be Blocked
June 05 2009 - 9:16AM
Dow Jones News
Steelmakers Friday called on relevant competition authorities to
"seriously examine" BHP Billiton Ltd.'s (BHP) and Rio Tinto PLC's
(RTP) proposed iron ore joint venture, saying it should be blocked
given competition concerns.
"At present we cannot see how this...could be in the public
interest and thus it should not be allowed to proceed," Ian
Christmas, director general of the World Steel Association said in
a statement.
The association's members represent around 85% of the world's
annual steel production.
Company Web site: http://www.worldsteel.org
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com