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CISA issues statement criticizing Rio-BHP alliance

(CMIC)
Updated: 2009-07-14 11:27

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The CISA issued a statement on June 9 criticizing the non-binding agreement established between Rio Tinto and BHP to form a joint venture for all their iron ore assets in Western Australia as a sheer monopoly. As China imports more than 50 percent of global seaborne iron ore and is one of the largest Australian’s iron ore importers, it deserves to be treated as an important player in the international market, notably in Asia. At home, iron ore importers should only act as an agent for producers in exchange for commission fees and not be allowed to resell the imported iron ore via the Internet or trading fairs for profit...

 

The full text is available in the July Issue of China Steel.Please visit E-shop（http://eshop.chinadaily.com.cn/）for more subscription details.