The Australian Competition and Consumer Commission had cleared BHP Billiton’s proposed acquisition of Rio Tinto, BHP Billiton said on Wednesday.

BHP Billiton welcomed the commission’s decision that it had no objection.

"We are very pleased to have received notice,” BHP Billiton said.

"Our strategic rationale has always been based on the combined company having an incentive to produce more product, more quickly, to deliver to customers,"  BHP Billiton chief commercial officer Alberto Calderon said.

Competition authority confirmation satisfied the Australian merger control precondition and followed the July decision of the US Justice Department that it would not oppose the transaction. 

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