Bhp Billiton And Rio Tinto: Merge From Iron Ore To Diamonds - Henan Jiyuan Iron & Steel, Iron

Global Iron ore Giants BHP Billiton and Rio Tinto merger may range far beyond the field of iron ore

, the companies also try to expand the merged business.

Australia, local media yesterday quoted analysts as saying that "two extension" is preparing to 1 billion Australian dollar merger of the Canadian diamond operations to obtain iron ore joint venture in more than synergy.

"Two Billiton" in Canada's diamond mines are located with "the diamond capital of North America" reputation capital of Yellowknife Northwest Territories (Yellowknife) the north-east. Financial crisis on the two companies created a huge impact on the diamond business.

"Two extension" in the first half of this year's results show that BHP Billiton's diamond business pretax profit despite 145 million U.S. dollars, but down 23.3%; Tinto diamond operations in the first half compared to a net loss of 56 million U.S. dollars, while a year Earnings before 108 million.

The Australian media quoted asset management company PenganaCapital TimSchroeders fund manager as saying that although the diamond business is less than the combined synergies of the two companies in the Pilbara iron ore Cooperation However, as Canada's two diamond mines located in remote, so the merger-related business to make the two companies to share infrastructure and labor are complementary in more.

TimSchroeders said: "In theory, the merger of the two mines can really necessary investigation. Nevertheless, what the pros and cons, but cooperation is not in a short time can be predicted geometry."

Yesterday, "two extension" refused to comment on this. "If the diamond business and then merge, will further increase the 'two extension' in the mining industry's competitiveness." My Iron and Steel Research Center analysts had told CBN's Day victory.

It is worth noting that this year on June 5, Rio Tinto Aluminum Corporation of China in the abandoned 19.5 billion capital injection program, the change through the capital markets up to 152 million allotment of shares, as well as for BHP Billiton Iron Ore stone business merger.

In accordance with the "two-continuation" of the program, the two sides will set up iron ore joint venture, each holding 50% stake. Both sides claimed that the merger synergies for both companies save the cost of at least 10 billion U.S. dollars.

This program, the disclosure, immediately met with opposition from the global steel industry. Last year, BHP Billiton Rio Tinto in the proposed acquisition, the steel companies have met with opposition from downstream. As the "two extension" and the Brazilian Vale 3 in the global iron ore shipping accounts for more than 70% market share, once the "two extension" merger of iron ore operations will further increase the monopoly.

7 4, chief executive of Rio Tinto iron ore operations SamWalsh also claims, with BHP Billiton joint venture's plans will not undermine the global iron ore market. He also disclosed that "two extension" joint venture set up in the middle of next year.

This seems difficult to gain a firm footing. As the "two extension" in the iron ore market in the interests of consistency this year, China's negotiations with three major mining companies, has been difficult to break. Rio Tinto has recently openly admitted that between Chinese steel mills Iron ore price Negotiations have been terminated.

"Two extension" iron ore business has not yet merged, had a serious threat to the survival of the downstream steel industry. Moreover, the "two extension" of ambition still further increased.

by: gaga

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