 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| . |  |
. |
Chinalco set to scrap tie-up with Rio Tinto: report
London (AFP) June 4, 2009 Chinese state-owned aluminium giant Chinalco is set to scrap its 19.5-billion-dollar (13.7-billion-euro) tie-up with Anglo-Australian mining giant Rio Tinto, the FT reported Thursday. Chinalco will walk away after weeks of wrangling over the terms of the deal, according to the Financial Times website which cited people familiar with the situation. The FT also said that Rio was considering a number of alternatives, which included a 12-billion-dollar rights issue and a joint venture with rival resources giant BHP Billiton. In reaction, Rio released a statement to say it was "pursuing a range of options" regarding its structure -- but failed to state whether the Chinalco deal would go ahead. "Rio Tinto notes press speculation. Rio Tinto is pursuing a range of options, some of which are at an advanced stage, for maximising shareholder value and improving the group's capital structure," the miner said. "A further announcement will be made in due course," it added. Share This Article With Planet Earth
Related Links Global Trade News
Chinese steel makers reject Rio-Nippon iron ore price cutBeijing (AFP) June 1, 2009 Chinese steel mills have rejected a cut in the price of iron ore agreed by Rio Tinto and Japan's Nippon Steel, in a bid to force producers to offer a deeper discount, an industry association said. The country's steel companies said the deal between the Anglo-Australian mining giant and the Japanese mill cutting iron ore prices by between 33 and 44 percent did not go far enough. "It will ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook