Rio Tinto Ltd. (RTP) and BHP Billiton Ltd. (BHP) are continuing to work through the regulatory process to secure approval for its joint venture, a Rio spokesman said Wednesday.

According to a report in the Sydney Morning Herald on Wednesday, Rio was preparing to walk away from the Pilbara joint venture after regulatory obstacles emerged that could stand in the way of the pair receiving clearance.

The joint venture agreement includes a US$275 million break fee.

-By Cynthia Koons; Dow Jones Newswires; +61-2-8272-4691; cynthia.koons@dowjones.com
Rio Tinto (NYSE:RIO)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Rio Tinto Charts.
Rio Tinto (NYSE:RIO)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Rio Tinto Charts.