TORONTO (miningweekly.com) - Diversified miners BHP Billiton and Rio Tinto on Thursday expressed "disappointment" after the German Federal Cartel Office said it intends to object to the companies' planned iron-ore joint venture (JV) in Western Australia.

"No decisions about next steps have been taken at this stage while regulatory discussions
continue," BHP and Rio said in a joint statement.

The companies said they continue to believe that the JV is "pro-competitive" and will increase the supply of iron ore.

But the miners acknowledged concerns expressed by some regulators.

"However, both BHP Billiton and Rio Tinto acknowledge the concerns expressed by some regulators and the obstacles to achieving clearance," the firms said.

The European Commission is also expected to issue a statement of objections to the JV, Reuters reported on Thursday, citing an unnamed source.

BHP and Rio signed binding agreements for the JV in December last year, and have been waiting since then for regulatory approval.

The CEOs of both companies have said publicly that the process has taken longer than they expected.

There has also been speculation over the last couple of months that Rio Tinto may be looking at pulling out of the venture.

The deal is also being reviewed by antitrust regulators in Australia, Japan and other markets.

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