L 92/50 Official Journal of the European Union 30.3.2004 COMMISSION DECISION of 30 October 2001 declaring a concentration to be compatible with the common market and the functioning of the EEA Agreement (Case COMP/M.2420 — Mitsui/CVRD/Caemi) (notified under document number C(2001) 3363) (Only the English text is authentic) (Text with EEA relevance) (2004/270/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to the Agreement on the European Economic Area, and in particular Article 57(2)(a) thereof, Having regard to Council Regulation (EEC) No 4064/89 of 21 December 1989 on the control of concentrations between undertakings (!), as last amended by Regulation (EC) No 1310/97 (?), and in particular Article 8(2) thereof, Having regard to the Commission’s decision of 26 May 2000 to initiate proceedings in this case, Having regard to the opinion of the Advisory Committee on Concentrations (3), Having regard to the final report of the Hearing Officer in this case (%), Whereas: (1)  On 31 May 2001, Mitsui and Companhia Vale do Rio Doce (CVRD) notified to the Commission a concentration pursuant to Article 4 of Regulation (EEC) No 4064/89 whereby Mitsui and CVRD would acquire joint control over Caemi Mineragio e Metalurgia SA (Caemi) by way of a purchase of shares. M O] L 395, 30.12.1989, p. 1 (corrected version in O] L 257, 21.9.1990, p. 13). (3 OJ L 180, 9.7.1997, p. 1. () 0] C 79, 30.3.2004. () 0J C 79, 30.3.2004. ) After examination of the notification, the Commission concluded on 3 July 2001 that the notified operation fell within the scope of Regulation (EEC) No 4064/89 and that it raised serious doubts as to its compatibility with the common market and the EEA Agreement. On 29 August 2001, the Commission issued a statement of objections, which was followed by an oral hearing of the parties on 24 September 2001. I. THE PARTIES Mitsui is a Japanese company conducting worldwide trading in various commodities and other products, including iron ore, and having minority and controlling stakes in a number of Australian and Indian iron ore mining companies, including a significant minority stake in the world’s second largest iron ore mine, Robe River. Mitsui also arranges financing and other project support for the trading activities of other companies. CVRD, based in Brazil, is a diversified mining company and the world’s largest iron ore producer. It already jointly or solely controls most of Brazil's iron ore production, with the principal exception of Mineracio Brasileiras Reunidas SA (MBR), a subsidiary of Caemi. CVRD recently acquired Ferteco Mineragio SA (Ferteco), Brazil's third-largest iron ore producer. It is also active in commercial transport (railways, port operations and shipping). Apart from iron ore, CVRD also manufactures a number of other products including fertilisers, kaolin, metallurgical bauxite, pulp and paper. Caemi is a publicly held company organised under Brazilian law which holds equity investments in companies active in the production and sale of iron ore