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Rio Tinto to Explore JV Possibility with Chinalco

Industry News 08:43:51AM Mar 12, 2010 Source:SMM

BEIJING, Mar. 12 -- Australian mining giant Rio Tinto is interested to set up a joint venture with Aluminum Corp of China, the largest alumina producer in the country, sources reported.

Reportedly, Rio Tinto CEO Tom Albanese will meet executives of Chinalco during a trip to China in late March to discuss the possibility of the JV.

It is also said that any deal between the two firms would involve offshore assets, possibly in Mongolia or West Africa.

Analysts said that a joint venture with Chinalco would provide the Australian company with an excellent opportunity to get Chinese funding.

Chinalco, the largest shareholder of Rio Tinto, holds a 9% stake in the Australian company.

 

 

Rio Tinto to Explore JV Possibility with Chinalco

Industry News 08:43:51AM Mar 12, 2010 Source:SMM

BEIJING, Mar. 12 -- Australian mining giant Rio Tinto is interested to set up a joint venture with Aluminum Corp of China, the largest alumina producer in the country, sources reported.

Reportedly, Rio Tinto CEO Tom Albanese will meet executives of Chinalco during a trip to China in late March to discuss the possibility of the JV.

It is also said that any deal between the two firms would involve offshore assets, possibly in Mongolia or West Africa.

Analysts said that a joint venture with Chinalco would provide the Australian company with an excellent opportunity to get Chinese funding.

Chinalco, the largest shareholder of Rio Tinto, holds a 9% stake in the Australian company.