銆€銆€China Iron and Steel Association (CISA) opposed the joint venture between Australian mining giants Rio Tinto and BHP Billiton, calling for resistance from all countries on the monopolistic alliance, China Daily reported Friday.

銆€銆€The planned 116 billion U.S. dollars joint venture would harm competition and push up global iron ore prices, and urged "customers across the whole world to oppose it as one", the newspaper cited the statement as saying.

銆€銆€The two mining producers signed a binding agreement earlier this months to consolidate their iron ore operations in Western Australia. The proposal is awaiting for the regulatory's nod.

銆€銆€The monopolistic nature of the global iron ore market is making it difficult for China to get a fair deal during annual contract price talks, according to the association.

銆€銆€China will face a serious threat if the Rio and BHP joint venture gains ground as their resource monopoly will help them in controlling capacities and prices, Zhang Ye, vice-general manager of China National Minerals, a subsidiary company under China Minmetals, was quoted by the newspaper as saying.

銆€銆€This year's iron ore price negotiations reached an impasse in June after CISA insisted on a 45 percent discount over last year's prices. Before that, a 33 percent benchmark price reduction had been agreed by BHP, Rio and Vale with other Asian steel mills.