BHP Billiton (BHP) and Rio Tinto (RTP) agree to combine their Austrailia iron ore operations, a...

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (BHP) and Rio Tinto (RTP) agree to combine their Austrailia iron ore operations, a deal they say will save them $10B a year, but but the deal faces significant regulatory hurdles due to their dominance of the iron ore market. The statement makes no mention of any payment from BHP to Rio Tinto, which has the larger iron ore production, but a figure of $5.8B had been proposed in earlier negotiations.