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Article: COMMISSION CLEARS BRAZILIAN IRON ORE MERGER.(European Commission, Caemi Mineraeao e Metalurgia S.A., Companhia Vale do Rio Doce, Mitsui and Company Ltd.)(Brief Article)(Statistical Data Included)
- Article from:
- European Report
- Article date:
- October 31, 2001
CopyrightCOPYRIGHT 2001 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The European Commission has approved the proposed acquisition of joint control of Brazilian iron ore mining company Caemi Mineracao e Metalurgia SA (Caemi) by Companhia Vale do Rio Doce (CVRD), another Brazilian iron ore producer, and Japanese trading company Mitsui & Co. Ltd (Mitsui). However, it ruled on October 30 that the merged firm must get rid of Caemi's 50% interest in Quebec Cartier Mining Company (QCM), a Canadian iron ore producer, to avoid an unhealthy domination of the market for the "seaborne" supply of iron ore pellets, meaning those imported from outside Europe. Pellets are one of three commercial forms of iron ore, which is used almost exclusively in ...