07/12/2010 (Agence Europe) - European Commission closes investigation into proposed joint venture between BHP Billiton and Rio Tinto. The preliminary investigation was opened in January 2010. Rio Tinto and BHP Billiton respectively rank 2nd and 3rd on the world iron ore production market. The joint venture they were planning to create would have brought together the assets of both companies in this sector in Western Australia. The Commission investigation revealed that the joint venture could have an adverse effect in terms of competition on the global market for iron ore transported by maritime routes. Rio Tinto and BHP Billition, who were informed of these conclusions on 15 October, have since abandoned their project. Hence the Commission's decision, announced on Monday 6 December, to close the investigation. (O.L./transl.jl)