UPDATE 1-Rio says no word from regulators on BHP iron ore jv

* European Commission not indicated any issues - Rio's Walsh

* Rio/BHP on track for Dec. 5 deadline for binding agreement

* Outlook for iron ore for 2010 very positive

(Adds detail, recasts)

PERTH, Nov 9 (Reuters) - Rio Tinto (RIO.L) (RIO.AX) and BHP Billiton (BHP.AX) (BLT.L) have not received any indications that the two mining giants will face regulatory issues in forming an iron ore production joint venture, the head of Rio's iron ore division said on Monday.

The pair plan to form a production joint venture that will combine their iron ore operations in Western Australia in a bid to gain around $10 billion in synergies.

"It is very early days .. we have not received any indications of any issues from the European Commission," said Sam Walsh.

He said Rio and BHP were on track to meet the Dec. 5 deadline for reaching a binding agreement on the iron ore joint venture.

"Both sides have got teams that are working to that timeframe. I reviewed late last week the progress and I've got to say it's very encouraging," Walsh said.