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SINGAPORE -(Dow Jones)- Aluminum Corp. of China, or Chinalco, seeks to develop more global strategic partnerships in the mining sector, and is currently in talks with Anglo-Australian miner Rio Tinto Ltd. about the joint development of a massive copper and gold mine in Mongolia, Executive Director Liu Xiangmin said Tuesday.


Liu's comments followed by one day comments made by Rio Tinto Chief Executive Tom Albanese, who expressed regret over a lost opportunity to deepen ties with Chinalco last year and optimism over a joint development deal with the Chinese company to develop an iron ore mine in Guinea.



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Written by mongoliaonline
169 days ago
The article also noted that the announcement highlights the warming "between the two mining giants in the wake of Chinalco's failed $19.5 billion bid for equity in the Anglo-Australian miner last February and the arrest in China later last year of Rio Tinto executives on bribery and other charges. The current round of warming is playing out even as Rio Tinto employees go on trial in a Shanghai court."

Rio Tinto Workers Admit Taking Bribes in China

http://www.nytimes.com/2010/03/23/world/asia/23riotinto.html?sudsredirect=true



Written by mongoliaonline
163 days ago
Four executives from mining giant Rio Tinto have been handed lengthy jail terms in China after being found guilty of bribery and stealing commercial secrets.

The Shanghai court said the head of the companies iron ore-operations in China, Australian citizen Stern Hu, would serve 10 years.

http://www.euronews.net/2010/03/29/rio-tinto-employees-get-long-jail-terms/



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