Japan's steel industry said that it is extremely dissatisfied with Australian Competition and Consumer Commission for approving the proposed takeover of Rio Tinto by rival BHP Billiton. It is worried that the new company would have too much control over global iron ore prices.

The Iron & Steel Federation said that it is asked anti trust agencies in Japan and Europe to thoroughly examine the proposal.

Japan's corporate regulator, the Free Trade Commission, has been frustrated in its attempts to scrutinize the deal.