BHP, Rio Tinto Agree to Pay Higher Royalties in Western Australia

Australia—BHP Billiton Ltd. and Rio Tinto Ltd. said Monday they have agreed to pay higher royalties on their giant iron-ore operations in Pilbara region of Western Australia. While the agreement with the Western Australian state government isn’t conditional on a planned iron-ore joint venture between the two miners proceeding, analysts said it seems designed to win support from the government for that deal – WSJ

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