Home News Arcelor Mittal and BHP Billiton Iron Ore JV to start

Arcelor Mittal and BHP Billiton Iron Ore JV to start


PARIS (Dow Jones) – The steel group Arcelor Mittal wants his Iron ore activities in Liberia and Guinea with those of rival BHP Billiton . merge Similar discussions to establish a possible joint ventures were included, said Arcelor Mittal Group on Tuesday. Due to such a joint venture the competitiveness of the iron ore and Are areas of infrastructure in the two countries strengthened.
The two companies will now have in the coming months advise the project to explore the benefits of a partnership. The governments of both countries should be included here. At this stage it is too early to discuss the Total to speak, "said a BHP spokeswoman.
The Melbourne-based BHP Billiton Group has only a Recently, a joint venture with the London competitors Rio Tinto plc of iron ore in Western Australia established. The project will begin in the second half, provided the Competition authorities agree. From China, however, is clear criticism of the Projects. The China Iron and Steel Association called mid-December Plan of a group as a threat to world steel markets.
China was the Rio Tinto and BHP Billiton in mid-2009 with In China threatened trade sanctions if the joint venture without Approval of the local competition authorities arises. Beijing concerned that in the course of the joint venture, an Australian export monopoly might arise. To the approval of antitrust authorities received, they should be, and Rio Tinto or BHP Billiton in Separate conditions of assets, it was said at the time.


Websites: www.riotinto.com

-By Ruth Bender and Andrea Hotter, Dow Jones Newswires
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(Chuin-Wei Yap, Stephen Bell and Ross Kelly of Sydney
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January 19, 2010 03:40 ET (08:40 GMT)

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