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Rio-BHP tie-up gets approval


Rio-BHP tie-up gets approval


The Western Australian State government is set to approve a 94 billion euro BHP Billiton-Rio Tinto iron ore production tie-up after the two companies agreed to a hike in state royalties.

The new rate is in line with that paid by other mines, ending a decades old incentive package enjoyed by the world’s Number 2 and Number 3 iron ore miners.

The hike should earn the state an extra 240 million euros this financial year.

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