China steel group protests Rio-BHP iron ore tie-up, calls for global opposition

摘要

China's steel industry voiced opposition Friday to a proposed joint mining venture between global mining giants Rio Tinto Ltd. and BHP Billiton Ltd. and called for global opposition against it. The world's No. 2 and No. 3 in the iron ore market signed binding agreements early this month to combine their Western Australian iron ore assets, with expected savings of at least 10 billion dollars.