Rio Tinto strengthens ties with Chinese SOEs

Australian mining company Rio Tinto courts the Chinese once again, forming joint ventures with Chinalco and Sinosteel soon after its proposed tie-up with BHP Billiton fails.

Rio Tinto on Friday signed joint venture agreements with two Chinese state-owned enterprises SOEs to jointly develop mining properties.

In Beijing, Rio Tinto and the Aluminum Corporation of China Chinalco signed a non-binding memorandum of understanding MOU to create a joint venture in China. Chinalco is the world’s second-largest alumina producer and the parent of Hong Kong- and New York Stock Exchange-listed Aluminum Corp of China, or Chalco.

Chinalco will own 51% of the JV and Rio...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...