Rio Tinto wants to work with mainland firms
24 March 2008
Mining company Rio Tinto wants to work with Chinese firms to develop mining projects around the world, Reuters reported. Rio CEO Tom Albanese, speaking in Beijing, said opportunities existed for establishing joint ventures and that Chinese state-owned firms, "could be very much part of that picture." Albanese said such partnerships could ease tensions over iron ore contracts between Rio and BHP Billiton and Chinese steel mills led by Baosteel. Albanese said he had no plans to meet executives from Baosteel or from the China Iron and Steel Association. He also said he had no plans to visit Chinalco, which recently bought 9% of Rio for US$14 billion in cooperation with US firm Alcoa.
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