The Australian Financial Review reported that Chinese steel industry has sent a delegation to Brazil to seek support for a campaign against the AUD 165 billion BHP Billiton Ltd. and Rio Tinto Pilbara iron ore venture.
As per report, China Industry and Steel Association officials flew to Brazil last week to discuss a response to the venture.
The report said that CISA and Vale may have discussed ways to lobby the European Commission competition regulator, which must approve Rio and BHP’s venture.
The partnership would replace Vale as the world’s biggest producer of iron ore.