Crunch time for BHP and Rio venture

4 Sep 2021 admin

first_imgSunday 17 October 2010 11:23 pm KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Share BHP BILLITON and Rio Tinto’s $116bn (£72bn) iron ore joint venture is hanging by a thread after the European Commission has told the companies it will object to the deal. The EU’s competition commissioner Joaquin Almunia is preparing to send a list of objections to Rio and BHP this week, which will ask the world’s second- and third-largest iron-ore producers for heavy concessions. “I cannot anticipate how this document will be finally written but it is obvious that we have concerns on this joint venture and they have to react to this statement of objections,” Almunia said at the weekend.The blow comes on top of the German regulator’s announcement last Thursday that it intended to object to the plans. Watchdogs in Australia, Japan and Korea are also due to rule on the venture. The plan to share iron ore operations in Australia would save the companies $10bn, but has been beset by complaints from the steel industry and shareholders since the idea was proposed in June 2009. It is likely to feature high on the agenda at BHP’s annual general meeting in London on Thursday. The proposal and its commitments are due to lapse at the end of 2010. It was yesterday reported that the companies are now looking for ways to break the deal without suffering $250m penalties. Rio Tinto and BHP were unavailable for comment yesterday. center_img More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ Crunch time for BHP and Rio venture Tags: NULL whatsapplast_img

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