Subscribe to RSS feedRio China deal gives iron grip on 30% supply Hong Kong
by
Obsidian
—
last modified
Feb 19, 2009 12:00 AM
Rio Tinto's sale of US$12.3bn worth of business assets and US$7.2bn of convertible bonds to Chinalco Aluminium Corp of China is unlikely to impact on its iron ore shipment volumes, analysts said.
The mining giant announced last week that it would create aluminium, copper and iron ore joint ventures with Chinalco in exchange for a cash investment of US$12.3bn from the Chinese partner.
The two companies further agreed to set up a...
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