London-based Rio Tinto sells Alcan Composites to Swiss Schweiter Technologies for $349 millionSeptember 22nd, 2009 Rio Tinto sells building materials unit for $349MMELBOURNE, Australia — Anglo-Australian mining giant Rio Tinto has advanced its debt reduction plans by selling building materials manufacturer Alcan Composites to Swiss machinery producer Schweiter Technologies for $349 million, the two companies said Tuesday. The sale of Alcan Composites, which is based in Sins, Switzerland, will be completed by the end of the year, the companies said in statements.
Chinese tech firm denies carrying out PLA operation in AustraliaSeptember 9th, 2009 BEIJING - A Chinese technological firm, which has been accused of carrying out operations in Australia with direct links to the People's Liberation Army, has denied allegations levelled against it. China Daily spokesperson quoted Huawei Technologies spokesperson Ross Gan as saying that firm has not been contacted by the Australian Security Intelligence Organization (ASIO).
Rio Tinto receives binding $2 billion offer from Amcor Ltd. for Alcan Packaging divisionsAugust 18th, 2009 Amcor offers $2 bln for Rio Tinto packaging armMELBOURNE, Australia — Packaging company Amcor has offered to buy Rio Tinto's remaining Alcan Packaging divisions for $2.025 billion, the mining giant said Tuesday. The offer encompasses global packaging operations that span pharmaceuticals, tobacco and food.
China charges Rio Tinto Australia executive of commercial briberyAugust 12th, 2009 BEIJING - Chinese prosecutors have charged Australian executive Stern Hu with commercial bribery, which means he could be facing up to seven years jail if found guilty by Beijing. China's official news agency Xinhua said Hu and three Rio Tinto Chinese colleagues were charged late on Tuesday, six days after being detained in Shanghai.
Oz, China spat over Rio Tinto 'spy' claim may be on the mendAugust 11th, 2009 SHANGHAI - With the Chinese Government backtracking on a website article that accused a British-Australian steel company of industrial espionage costing Beijing 100 billion dollars, and Australian diplomats in Shanghai meeting detained Rio Tinto executive for a second time, it appears as if ties between Beijing and Canberra are on the mend after weeks of tension. Consular staff were last week permitted their second monthly prison visit with Rio Tinto executive Stern Hu since his arrest on July 5.
Mining giant Rio Tinto guilty of commercial espionage worth 100 B dollars: ChinaAugust 10th, 2009 SHANGHAI - Relations between China and Australia are likely to take a turn for the worse with authorities in Beijing accusing the British-Australian mining giant Rio Tinto of engaging in commercial espionage that cost China about 100 billion dollars. The sensational allegation was published on Sunday on a website affiliated with China's State Secrets Bureau, which has detained four Rio Tinto employees - three Chinese citizens and one Australian - in Shanghai last month on suspicions of stealing confidential documents from the country's huge, government-controlled steel industry.
Rio Tinto says Chinese bribery claims falseJuly 17th, 2009 MELBOURNE - Australian mining giant Rio Tinto has said that the allegations that some of its employees in China have been engaged in bribery are "wholly without foundation". Chinese authorities claim four employees of the world's third-biggest miner bribed Chinese steel mills officials during annual iron ore contract price negotiations.
Now, Oz mining giant Rio Tinto accused of bribing executives of 16 Chinese steel millsJuly 15th, 2009 BEIJING - The staff of Australian miner Rio Tinto bribed executives from all 16 Chinese steel mills participating in this year's iron ore price talks, an industry insider has disclosed. "Rio Tinto got to know the key executives of the 16 steel mills, who have sensitive industry information, when the China Iron and Steel Association (CISA) brought them to the bargaining table," China Daily quoted a senior manager at a large steel company, as saying.
Australia says spy arrest could affect China's businessJuly 12th, 2009 MELBOURNE - Australia's Financial Services Minister Chris Bowen has warned that the country's business people may not want to work in China in the wake of Australian origin Rio Tinto executive Stern Hu being arrested in the country on espionage charges. "The Chinese Government will be very aware that it is not good for business certainty if there's a regular pattern of foreign business people being incarcerated," news.co.au quoted Brown, as saying.
Rudd Govt. in "worst foreign policy crisis" following China's Rio Tinto GM arrestJuly 11th, 2009 MELBOURNE - The Australian Government's open support to the Shanghai-based Australian general manager of iron ore mining company, Hu Stern, who has been arrested on espionage charges in China, is set to put the Kevin Rudd government in the worst foreign policy crisis since taking office in November 2007. "Frankly, it is difficult for a nation like Australia to see a relationship between espionage and national security and what appeared to be suggestions about commercial or economic negotiations," Australian Foreign Minister Stephen Smith said in the wake of Australian consular officials gaining access to Hu for the first time since his arrest last Sunday.
China arrests Rio Tinto's Shanghai GM on bribery chargesJuly 10th, 2009 MELBOURNE - The Chinese Government has arrested the Shanghai-based general manager of multinational mining and resources, Rio Tinto, on charges of bribing staff of Chinese steel companies during iron ore negotiations this year. Australian Foreign Minister Stephen Smith disclosed that Stern Hu is being detained on suspicion of spying and stealing state secrets in China.
Australian diplomats meet executive held in China for spyingJuly 10th, 2009 SYDNEY - Australian diplomats Friday met the Rio Tinto executive held by Chinese authorities since Sunday over spying allegations. Foreign Affairs Minister Stephen Smith would not comment on reports in the Chinese media that Australian citizen Stern Hu stood accused of trying to bribe employees of Chinese steel companies to gather confidential information during iron ore price negotiations.
Four mining firm employees detained in China for spyingJuly 9th, 2009 SHANGHAI - Four employees of the international mining group Rio Tinto Ltd. have been detained on charges of stealing China's state secrets, authorities said Thursday.
Australian Rio Tinto worker detained in China on espionage chargeJuly 8th, 2009 Australian detained on espionage charge in ChinaSYDNEY — An Australian who heads Rio Tinto's iron ore operations in China has been arrested in Shanghai and accused of espionage, Australia's foreign minister said Wednesday. The detention of the executive and three Chinese nationals working for Rio comes at a tense period between the Anglo-Australian miner and China due to tough negotiations on iron ore prices and the failed plan for China's state-owned Chinalco to buy a big stake in Rio Tinto.
Chinalco maintains 9.3 percent stake in Rio Tinto through $15.2 billion rights issueJuly 2nd, 2009 Chinalco maintains 9.3 percent stake in Rio TintoMELBOURNE, Australia — State-controlled Aluminum Corp. of China said Thursday it took up its full entitlement in Rio Tinto's $15.2 billion share issue to maintain a 9.3 percent stake in the Anglo-Australian miner.
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