Global miners, including Rio Tinto (RTP -1.5%) and BHP (BHP -1%), reach a tentative deal with...

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

Global miners, including Rio Tinto (RTP -1.5%) and BHP (BHP -1%), reach a tentative deal with Japanese steelmakers to replace the current iron ore pricing system of annual contracts and lengthy negotiations with quarterly pricing and contracts linked to the spot market. A final deal could be reached by the end of the month.