Japanese steel industry reiterates opposition to Rio Tinto-BHP Billiton JV

On January 26, the Japan Iron and Steel Federation (JISF) released a statement regarding the European Commission's antitrust investigation into the proposed establishment of a production joint venture (JV) between Rio Tinto and BHP Billiton concerning their iron ore operations in Western Australia. The investigation in question is being carried out under Article 101 of the Treaty on the Functioning of the European Union.
 
JISF chairman Shoji Muneoka emphasized that the Japanese steel industry views the establishment of the JV as a move that would restrict competition just as the failed acquisition of Rio Tinto by BHP Billiton would have, through the integration of the parties' entire production activities in Western Australia. Consequently, the Japanese steel industry opposes the JV.
 
"The Japanese steel industry expects the European Commission to conduct a thorough investigation against the JV, and will cooperate fully with the proceedings," reads the statement.
 
On December 7 last year, the JISF had released another statement, also expressing its concerns about the proposed JV.