Germany's Federal Cartel Office (FCO) has revealed it currently intends to prohibit the proposed ore production joint venture in Western Australia.
In a joint statement, RIO Tinto and BHP Billiton said they continue to believe that the JV is pro-competitive. “However, both... acknowledge the concerns expressed by some regulators and the obstacles to achieving clearance for the JV."
The final FCO decision is expected next week. RIO shares are today trading 1.36% higher at $83.200, while BHP shares are down 0.02% to $41.650.