China Holds Talks With Brazil on BHP, Rio Venture, Review Says

China’s steel industry has sent a delegation to Brazil to seek support for a campaign against the A$165 billion ($151 billion) BHP Billiton Ltd. and Rio Tinto Group Pilbara venture, the Australian Financial Review said.

China Industry and Steel Association, or CISA, officials flew to Brazil last week to discuss a response to the venture, the newspaper said, citing an unnamed source at a Chinese steel mill. The talks include ways to foster closer ties with Vale SA, Australia’s main iron ore export rival, the newspaper said.

CISA and Vale may have discussed ways to lobby the European Commission competition regulator, which must approve Rio and BHP’s venture, the report said. The partnership would replace Vale as the world’s biggest producer of iron ore, it said.

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