The JFTC closed its prior consultation's review on the proposed joint venture for iron ore production between BHP Billiton and Rio Tinto

October 18/2010
Japan Fair Trade Commission

The Japan Fair Trade Commission (hereinafter “JFTC”), after receiving a request for prior consultation according to “Policies dealing with prior consultation regarding business combination plans” from BHP Billiton Limited and BHP Billiton plc (hereinafter “BHP Billiton”), and, Rio Tinto Limited and Rio Tinto plc (hereinafter “Rio Tinto”), had undertaken a review of the proposed joint venture for iron ore production between the parties.

On September 27 2010, the JFTC made a notice of problems to the parties and noted that the proposed JV would substantially restrain competition in the field of the production and sale of lumps and fines of iron ores in the worldwide seaborne market. Since BHP Billiton and Rio Tinto made a press release about the end of the proposed JV today, the JFTC closed its prior consultation’s review on the proposed JV.

The proposed JV was reviewed not only by the JFTC but also by the Australian Competition and Consumer Commission,the European Commission, the German Federal Cartel Office and the Korea Fair Trade Commission. The JFTC exchanged information with these competition authorities in the course of its prior consultation’s review on the proposed JV.

【Reference】The JFTC’s prior consultation review on the proposed JV

*Every announcement is tentative translation. Please refer to the original text written in Japanese.