COMPANIES BHP Billiton on Thursday brushed aside reports its proposed US$116bn Western Australian iron ore joint venture with Rio Tinto was in difficulty only weeks ahead of a deadline for the mining groups to conclude a “definitive agreement”.
Rio Tinto’s financial position has improved markedly in the five months since it struck the production joint venture with its arch-rival and former hostile suitor and there are concerns the London-based group should be better compensated for pooling its superior iron ore infrastructure assets with those of BHP.
