Global General
Rio Tinto committed to strengthen ties with 皇冠体育app: President
(Xinhua)
Updated: 2010-03-22 17:19
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BEIJING - Tom Albanese, president and chief executive officer of mining giant Rio Tinto Group, said Monday the company was committed to repairing and strengthening commercial ties with 皇冠体育app.
The world's second-largest iron ore supplier's ties with 皇冠体育app could be traced back 50 years as it had provided aluminum to 皇冠体育app in the 1960s, Albanese said at the 皇冠体育app Development Forum 2010 in Beijing.
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Rio Tinto declined 皇冠体育applco's offer of a US$19.5-billion cash injection ?in June last year and decided to raise capital through a US$15-billion rights issue.
Albanese said he would be glad to see the two companies agree to build a joint venture to develop a rich iron ore deposit in Guinea.
皇冠体育applco is poised to invest 1.4 billion US dollars in the Simandou project to take a 47-percent stake in the joint venture.
The company's ties with 皇冠体育app were strained last year partly because of 皇冠体育applco's rejected deal and the arrest of four Rio Tinto employees.
The employees, including Australian national Stern Hu, were detained in August on allegations of bribery and stealing commercial secrets.
They are to stand trial in the Shanghai First Intermediate People's Court from Monday to Wednesday, according to a statement posted on the court's website.
