US authorities have closed an investigation into suspected cartel-like behaviour in the copper concentrates industry without laying any charges. A spokeswoman from the US Department of Justice said no further details about the investigation would be given as no action was to be taken. The investigation was launched in May 2003 by US, European and Canadian antitrust authorities who targeted several producers suspected of fixing sales prices and sales conditions, customer allocation and market sharing.
European investigators were seen as leading the probe, which they said involved up to 10 companies but did not name.
Companies who said they were targeted during the investigation included Freeport-McMoRan Copper & Gold Inc, Rio Tinto, BHP Billiton, and Canada's Teck Cominco Ltd.
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