Australia declares end to China tensions

Australia declared an end to diplomatic tensions with China on Monday despite differences over the arrest of a Rio Tinto mining executive, and urged Beijing to stay calm when disagreements flare in the media. Australia’s ties with China have been tense for several months after China’s state-owned metals firm Chinalco failed in a bid to [...]

Chinalco eyes RUSAL’s Australian plant stake – sources

Chinese metals conglomerate Chinalco wants to buy UC RUSAL’s stake in an alumina refinery in Australia, but is less interested in buying into the indebted Russian company’s Hong Kong share issue, two sources familiar with the situation said on Tuesday. However, state-owned Chinalco, may be obliged to subscribe to the share issue and take a [...]

Chinalco wants RUSAL’s Australian alumina refinery stake

But, the Chinese company hopes to avoid the Russian firm’s Hong Kong share ipo Read more….

Chinalco taking up Rio rights to maintain shareholding – reports

China’s Chinalco is widely reported to be taking up its Rio Tinto rights entitlement to remain company’s largest shareholder despite adverse fallout from aborted equity deal. Read more….

Chinalco unaware of Anglo American bid interest

A spokesman for Chinalco said he was unaware of market talk of bidding interest in Anglo American from China’s state-owned mining and mineral giant. Read more….

Chinalco blames Rio, not Australia

Chinese metals conglomerate Chinalco felt Australia had an "open and welcoming" attitude to its failed $19,5-billion bid to invest in Rio Tinto, Chinalco President Xiong Weiping said on Thursday. The deal collapsed last week because of factors beyond Chinalco’s control, with disagreements on board seats and a convertible bond issue, and despite its offer of [...]

Chinalco failure will not deter future deals

Li Ruogu, chairman and president of Exim Bank, was speaking at a financial forum in Beijing. Read more….

Now it’s Chinalco seeking to amend Rio terms

Sources told said any changes would address concerns raised by both Canberra and Rio Tinto shareholders over the biggest overseas investment by a Chinese company. Read more….

Chinalco is considering changes to the Rio deal

Rio Tinto lined up the deal with Chinalco in February, looking for a way to pay down half its $38 billion in debt as debt markets remained frozen and commodity prices collapsed. Read more….

Chinalco against potential changes in Rio deal-FT

A senior executive of Chinese metals firm Chinalco stood by a planned $19,5-billion tie-up with global miner Rio Tinto amid speculation Rio might try to revise part of the deal to win shareholder support, the Financial Times reported on Monday. "This investment is a package. It is a result of two months of very intensive [...]

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