Australian mining giant Rio Tinto's board of directors has acknowledged that recent communications from regulators indicate potential obstacles to achieving clearance for the planned joint venture (JV) with larger Australian miner BHP Billiton.
The BHP Billiton-Rio Tinto JV, proposed in December 2009, looks to achieve integration of the companies' entire production activities in Western Australia, a venture worth US$116 billion.
According to a company statement, the board held a meeting on Monday, October 4, 2010 at which a range of issues were discussed but has not made any final decisions about possible outcomes or next steps relating to the JV.
The board says the communications hinting to obstacles include the recent receipt of interim reports from the Japan Fair Trade Commission and the Korea Fair Trade Commission, and ongoing discussions with the European Commission and the Australian Competition and Consumer Commission.