> Home > Blog > EU News > BHP Billiton and Rio Tinto to halt £73bn joint venture over EU restrictions
>  Blog
BHP Billiton and Rio Tinto to halt £73bn joint venture over EU restrictions
Date 18/10/2010 11:31  Author webmaster  Hits 1016  Language Global
18 OCT 2010

Miners say competition concessions are too tight for Australian iron ore merger to go ahead.

By Emma Rowley | Telegraph

Mining giants BHP Billiton and Rio Tinto are poised to abandon their plans for a $116bn (£73bn) joint venture in the face of mounting regulatory obstacles.

Competition concessions demanded by European Union regulators in a meeting with the companies on Friday were so stiff that the prospect of merging their iron ore operations in western Australia became even more unlikely.

Read entire article