South Africa’s Competition Commission has recommended that the Competition Tribunal 
approve the restructuring of the shareholding of Rio Tinto and BHP Billiton’s Richards Bay Minerals (RBM) venture.

The shuffle of interests came about to facilitate the introduction of black economic-empowerment (BEE) shareholders.

Previously, RBM was a 50:50 joint venture (JV) between the two diversified mining giants.

As part of the restructuring, it is understood that Rio Tinto and BHP Billiton will incorporate two South African empowerment holding companies, namely 
Tisand Holdco and Richards Bay Iron & Titanium Holdco.

Upon implementation of the restructuring, BHP Billiton and Rio Tinto will have joint control in Richards Bay Mining and Richards Bay Titanium.

The matter was to be heard at the Competition Tribunal on Wednesday, March 11.


In December, the two com-
panies announced the final 
signing of agreements for its 
26% broad-based BEE deal, worth some R4,5-billion – a deal representing one of KwaZulu-Natal’s biggest transactions to date.

When entering into the 
empowerment transaction, 
Rio Tinto and BHP Billiton 
entered into agreements to 
restructure the JV, while maintaining their respective interests in RBM.

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