Australia regulator targets iron ore in BHPB-Rio bid - 0 views
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xxx xxx on 22 Aug 08Australia`s competition regulator on Friday identified iron-ore as a potential major concern in evaluating mining giant BHP Billiton`s US$128 billion bid for rival Rio Tinto and said it would make a final ruling on the hostile takeover by October 1. The Australian Competition and Consumer Commission (ACCC) devoted most of its nine-page "statement of issues" to the proposed deal`s likely impact on the iron ore trade and, in particular, on Australian steel-makers. Rio Tinto and BHPB are the world`s second and third largest iron-ore producers, respectively, behind Brazil`s Vale. But the ACCC saw no major competition issues surrounding trade in copper, gold, uranium, bauxite and alumina.