Johannesburg – A proposed large merger between Rio Tinto International Holdings Limited, and Richards Bay Mining Holdings and Richards Bay Titanium Holdings has been given the green light by the Competition Tribunal.
Rio Tinto International‚ the purchaser in this transaction‚ is a wholly owned subsidiary of global resources giant Rio Tinto Group. Rio Tinto Group is a global purchaser of several industrial minerals which include diamonds‚ copper‚ iron ore‚ thermal coal‚ metallurgical coal and uranium.
The Competition Commission had recommended that the tribunal approve the transaction without conditions after assessing the deal and concluding that‚ overall‚ the proposed merger was not likely to cause a substantial lessening of competition.