Last Updated :
25 January 2010 at 17:40 IST
EU to probe Rio Tinto, BHP mining deal
BRUSSELS (Commodity Online) : The European Union on Monday said it would investigate whether a plan by iron ore miner giants Rio Tinto and BHP Billiton Ltd. to combine some operations could damage competition.
In a statement issued here European Union regulators say a plan by the world's No. 2 and No. 3 iron ore miners, Rio Tinto and BHP Billiton Ltd to pool iron ore mining in western Australia would affect the global prices or supply for iron ore transported by sea.
European steel makers complained last November that the mining combination could hike prices for iron ore, the key ingredient for the steel used to make cars, buildings and machinery.
The EU executive set no deadline for the probe into whether the deal breaks EU antitrust rules forbidding restrictive business practices.
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