Forbes.com: EU extends deadline for inquiry into BHP Billiton’s buy of Rio Tinto to December 9
The EU wisely said, “Wait a second, do we really want a really, really large mining company?” and now is going to spend more time taking apart the BHP-Rio Tinto merger. On the back of this, expect the EU to [...]
Entries Tagged as ‘BHP’
July 7, 2008
Old news, EU antitrust wants more time to look at Rio Tinto-BHP deal
July 3, 2008
BHP falls in line behind Rio Tinto’s iron ore price, maybe
Not much news here, but if it is true, BHP matched Rio Tinto’s price for 2008. Not a huge surprise.
Bloomberg.com: BHP will agree iron ore price in line with Rio Tinto, Financial Times says
July 2, 2008
Letter to Santa from Mittal
Bloomberg.com: ArcelorMittal says Rio Tinto’s IOC unit would be `natural fit’
Dear EU antitrust commission and Santa,
Rio and BHP are going to be very bad this year; you must punish them. So to keep it short, all I want this year is a railroad and a mine, in particular the Iron Ore Company of Canada. [...]
June 30, 2008
The sharks are swimming
Telegraph.co.uk: Anglo American to pore over BHP and Rio’s iron ore assets
What makes Anglo or Xstrata think they can outbid the Chinese for decent iron ore assets? If this merger happens on the condition that Rio Tinto is broken up to a degree, we will see what the value of a set of grade A [...]
June 24, 2008
Face is saved between the Chinese and the Aussies
Reuters: Baosteel, Rio agree sharp 2008 iron ore price
Face was saved between Australia and China by changing the lump and fines premiums rather than going for an across-the-board freight premium. The fact is, Australia ships more lump than Brazil and that is the ore price they really care about, and the blended price is [...]
June 18, 2008
Fight! Fight! Iron ore fight!
Australia’s richest man, woman in iron ore mine fight
In case you get bored, there is a new fight in town that might give Ultimate Fighting a run for its money. It is Rio and Gina against Twiggy and Cazaly Resources Ltd. This is a fight that BHP could have paid for. If it is credible [...]
June 12, 2008
Rio denies it
Rio Tinto denies 95% hike in iron ore prices in China
Dear BHP,
95%? We did not agree to 95%. We want more, lots more. We need it to make up for any risk we have in Africa. Now can you please drop your bid and go away as we are having way too much fun running [...]
June 11, 2008
25% of what?
News.com.au: BHP-Rio combo is a “modest” 25% of market
Come on, math is clearly the strong suit of these people. Yes, Rio Tinto and BHP probably only have 25% of total worldwide demand. But they have a much higher percentage of the free-traded iron ore, and that’s not taking into account the market control percentages that [...]
