Rio, BHP End Pilbara JV Plans

19 October 2010 (Last Updated October 19th, 2010 18:30)

Rio Tinto has ended plans with BHP Billiton for an iron ore production joint venture in Pilbara in Western Australia. The companies have been informed by regulators from Europe, Australia, Japan, Korea and Germany that the proposal requires substantial modifications to obtain approval.

Rio Tinto has ended plans with BHP Billiton for an iron ore production joint venture in Pilbara in Western Australia.

The companies have been informed by regulators from Europe, Australia, Japan, Korea and Germany that the proposal requires substantial modifications to obtain approval.

The modifications, including divestments, were unacceptable to the companies, Rio said.

Rio Tinto is expected to invest more than $13b in capital projects until December 2011.