ACCC pushes back Rio-BHP JV decision to May 27

Australia's competition regulator, the Australian Competition and Consumer Commission (ACCC), has once again postponed the results of its review on the gigantic iron ore joint venture planned by Australian iron ore miners BHP Billiton and Rio Tinto for their Western Australian assets, in order to give more time to the respondents to reply to the ACCC's request for information.
 
"The former proposed date for the announcement of the ACCC's findings of April 28, 2010 has been amended to allow time for BHP Billiton and Rio Tinto to respond to the ACCC's information request of March 30, 2010," the ACCC said on its website, adding that the new proposed date is May 27, 2010.
 
As SteelOrbis previously reported, the ACCC, which started its review on December 9 and was originally to report its findings on February 24, had pushed back the date the first time in February.
 
If the joint venture is realized between the world's second and third largest iron ore producers, their combined production would immediately exceed that of the world's top producer Brazil-based Vale. The European Commission is also investigating the joint venture.