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Rio Tinto Aluminium in the West African iron ore exploration prospects and unpredictable by big tree
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Rio Tinto Aluminium in the West African iron ore exploration prospects and unpredictable by BIG TREE
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| Article Posted: 05/12/2010 |
| Article Views: 136 |
| Articles Written: 1033 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 940 |
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Rio Tinto Aluminium in the West African iron ore exploration prospects and unpredictable |
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Business,Business News,Business Opportunities
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Aluminum and Rio Tinto jointly set up a joint venture of Al into the iron ore industry. The two companies will pull together a project called Simandou Guinea in West Africa's iron ore (the iron ore Du Mountain West). The two sides have formed a joint venture to develop the iron ore project reached a framework agreement, and plans to visit Rio Tinto chief executive Aibo-year period (March 20 to 22) officially announced.
On the aluminum case, although this co-operation for opening a new international arena. However, whether this project had overcome the existing uncertainties, the aluminum remains a challenge.
February 2009, in Rio Tinto Aluminium and the "Century deal" announced less than four months after the deal was announced suspension. Now, from the last "hand" more than a year later, Rio Tinto aluminum and come together again.
However, 3 ? 22 ? (??) trial Rio Tinto broke the news of the case established arrangements. 3 ? 19 ? (??) at 11 am, the two sides announced a joint venture signed a memorandum of understanding on the project's message. Aibo for the upcoming years, how much is paved the road to Beijing Made Easy. With Aibo-year visit to China, Rio Tinto is conducting a comprehensive and solid public relations, to repair relations with China.
Rupture of the 2009 transaction, there have been people who angrily Rio Tinto Aluminum in "bad faith." Six months later, what is the power to make aluminum and Rio Tinto together again? This time, the aluminum is more dangerous in the direction of cooperation?
"Normalization of relations" efforts
Guinea in West Africa, the West Mountain Du iron ore, Rio Tinto was seen as Australia's Pilbara region with the same "world class" ore assets, Aibo has said this in the future Rio Tinto iron ore business is a major contribution to the growth persons. Rio Tinto plans to reach 70 million tons annually in advance, and will eventually raise capacity to 170 million tons per year, if the final implementation, which means that Rio Tinto will be recreating a "Hamersley" ore. Rio Tinto Hamersley Iron is one of the largest iron ore production is now located in Australia.
Rio Tinto Aluminium and just now signed a framework agreement is not binding. Under the agreement, Rio Tinto Aluminum in accordance with the ratio of 47:53 joint venture, the joint venture held 95% of the West Mountain DU project stake (the remaining 5% of project equity held by the International Finance Corporation). Aluminum joint venture company will be staging a total of 1.35 billion U.S. dollars into the capital for the equity. The investment for West Mount Du demonstration projects and development of follow-up project. China International Capital Co., Ltd. and Blackstone Group as in the aluminum companies in the transaction's financial adviser, Baker? Michael Caine an international law firm office when his legal advisers.
However, the project's total investment has not yet announced. Both sides said the agreement will be completed before the project feasibility study report to determine. Two years ago, Rio Tinto claims that the development of this iron ore to 60 million, but that the exploitation of the project costs have increased to 12 billion U.S. dollars.
Rio Tinto Aluminium and conspiracy in the transaction does not stop there. Articles from close to the deal who the author was informed, in addition to a large iron ore Du West Mountain, the two sides there are other projects under discussion, such as Rio Tinto OyuTolgoi in copper and gold project in Mongolia, but has not yet agreed.
Sources said the opportunity to benefit from the cooperation of Aluminium and Rio Tinto on a strategic cooperation agreement reached in part. At the time of Aluminum and Rio Tinto trade reached 19.5 billion U.S. dollars, except for the two sides formed of iron, copper, aluminum and other aspects of joint venture assets, and to 7.2 billion U.S. dollars, Rio Tinto Rio Tinto subscription of convertible bonds issued in the secondary, the two sides also committed to the exploration level, will develop in Guinea iron ore project in West Mount Du discussed.
19.5 billion U.S. dollars of trade ended in failure, and Rio Tinto in aluminum once the relationship became very tense. Mr Xiong, general manager of Al transactions fail publicly expressed "very disappointed", within the vision of Al Rio's move as "bad faith" act.
Aluminum one close to the negotiations told the author, after which the aluminum has not rejected the possibility of overseas cooperation. While the general manager Mr Xiong has repeatedly stressed that Aluminum "multi-metal internationalization" of the pace will not stop, aluminum also has other projects in the negotiations overseas.
"We are always looking for different people and opportunities for cooperation, as long as they can be mutually beneficial, is an opportunity." Above to the author of aluminum, said insiders.
"This agreement is meant in the relationship between aluminum and Rio Tinto has become normal." Close to the deal told the author. He believed that the aluminum is still the single largest shareholder of Rio Tinto, both sides hope to repair relations, and Rio Tinto to resume relations with China's efforts is particularly important.
Face its biggest market, Rio Tinto for "breach of contract" in China into an unprecedented passive situation. This is what it had to restart cooperation with the causes of aluminum. I am a professional editor from China Product, and my work is to promote a free online trade platform. http://www.himfr.com/ contain a great deal of information about ibook g4 1.33 , powerbook g4 aluminum welcome to visit!
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