Chinalco in talks about JV with Rio Tinto
China’s top state-owned nonferrous metals company Chinalco has confirmed in a Chinese newspaper
China’s top state-owned nonferrous metals company Chinalco has confirmed in a Chinese newspaper this Wednesday that it is in talks with Australian Rio Tinto to form various joint ventures in Mongolia. According to the Oriental Morning Post, Chinalco vice-president Lu Youqing said the two companies were talking about jointly investing in and developing the Mongolian Oyu Tolgoi copper-gold project, led by Rio’s partner Ivanhoe Mines. He also said they could form a joint venture to develop the Simandou iron ore mine in Guinea. The report came soon after the news that Chinalco’s plans to raise its stake in Rio Tinto failed. Chinalco had tried to develop its overseas operations in Australia, a main raw material supplying country, and increase its share in the Australian company.
Өдрийн шуудан сонин