BHP Billiton and ArcelorMittal may combine assets

BHP Billiton has entered into preliminary discussions with ArcelorMittal about potentially combining the two companies’ iron ore interests in Liberia and Guinea into a single joint venture. The combination of these interests together with each firm’s execution capabilities and financial strength would provide a platform on which to build an iron ore business in West Africa. The partners will continue to assess the merits of a potential joint venture and will work with the respective governments of Liberia and Guinea to seek their support. It is anticipated that this will take several months.
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