BHP Billiton and Rio Tinto iron ore joint venture plans to cancel the form.

<P> The morning of Oct. 18 Beijing Time, according to foreign reports, the global mining giant BHP Billiton (BHPBilliton) and Rio Tinto (RioTinto) has invested 116 billion U.S. dollars to cancel a joint venture plan. .The plan met with regulators, customers and investors in some of the major opposition. .</ P> <P> abortion of the scheme means that BHP Billiton three years trying to obtain high-quality iron ore assets of Rio Tinto's second effort failed. .</ P> <P> Rio Tinto and BHP Billiton has sought to bring the two sides in Western Australia's iron ore business combination, of the reasons is that the scheme will help them save 100 billion dollars in expenses. .</ P> <P> Rio Tinto CEO Tom Albanese (TomAlbanese) said in a statement, "In the past 16 months, the two companies work together to actively promote the program and the program will bring for display .positive effects of market competition, but the regulators ultimately be rejected, I am very disappointed. "</ P> <P> 2009 年 6 months, Rio Tinto agreed to the merger plan was a time when iron ore market downturn .Rio eager to cut up to 400 billion dollars in debt. .Since then, Rio has significantly reduced debt burden. .Meanwhile, the market rebounded sharply as iron ore, iron ore, Rio Tinto shareholders of the joint venture plans to build less interested, and that the transaction is conducive to the pile BHP Billiton side. .</ P> <P> after European regulators said it would veto the deal, so Rio Tinto and BHP Billiton to cancel the merger basically meet the market expectations. .</ P> <P> Rio Tinto and BHP Billiton agreed to cancel the joint venture plans, and not to pursue the 276 million in termination fees. .</ P>.