BHP, Rio announce joint venture deal

After some time of negotiations, the 2 mining giants finally announce the 50/50 joint venture that would allow the two companies to further develop the Pilbara iron ore operations in Western Australia.  This deal would save the companies a combine $10bn in production and capital costs. The remaining challenge for the two is to overcome regulatory hurdles, particularly that which looks into the competitive landscape of the industry and whether this deal would bring a significant antitrust issue.

Know more from the FT.

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