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.
Rio Tinto 'still unaware' of any evidence to justify China's detention of 4 workersAugust 11th, 2009 Rio Tinto 'still unaware' of China case evidenceSYDNEY — Rio Tinto Ltd. said Tuesday it was still unaware of any evidence to justify China's detention of four employees on spying allegations, as the Australian government urged Beijing to speed up the case.
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 shares plunge more than 3 percent after China claims a 6-year spying campaignAugust 10th, 2009 Rio Tinto prices plunge on China spy claimsSYDNEY —Rio Tinto Ltd.'s share price plunged more than 3 percent Monday after China accused the Anglo-Australian miner of conducting a six-year spying campaign that it claimed cost Chinese steelmakers billions of dollars in inflated prices for iron ore. Rio Tinto declined to respond to the latest allegations but said in July that bribery allegations against four Rio Tinto employees detained in China were baseless.
China tells Oz that it has sufficient evidence against Rio Tinto staffJuly 22nd, 2009 BEIJING - China has told Australia that it has sufficient evidence to prove Rio Tinto staff's involvement in espionage and bribery case. "I've introduced the information about the case to him (Australian Foreign Minister Stephen Smith) and stressed we have sufficient evidence to show that people involved in the case have obtained our state secrets through illegal means," The Australian quoted He Yafei, as saying.
Australian foreign minister hopes to talk with Chinese officials about Australian's detentionJuly 21st, 2009 Australian FM hopes to discuss Rio case with ChinaCANBERRA, Australia — Australia's foreign minister said Tuesday he hopes to discuss the detention of an Australian mining executive accused by China of stealing state secrets with his Chinese counterpart this week. Stephen Smith flew to Thailand on Tuesday for an Association of Southeast Asian Nations meeting that China will be participating in.
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 wants evidence from China on Rio Tinto exec's detention, says it could hurt businessJuly 12th, 2009 Australia: Rio detention could hurt China businessBEIJING — Australian officials said Sunday that China has not given them any evidence to support its detention of an Australian mining executive on spying charges and warned that the affair could discourage foreign companies from doing business there. Foreign Minister Stephen Smith told reporters in western Australia that officials will seek information Monday on the detention of Rio Tinto employee Stern Hu.
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.
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.
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.
Rio Tinto says 4 employees detained in China; Australia seeks access to Australian citizenJuly 8th, 2009 4 Rio Tinto workers detained in ChinaBEIJING — Four employees of Anglo-Australian miner Rio Tinto Ltd., including an Australian man, have been detained in Shanghai for undisclosed reasons, the company and government officials said Wednesday. Rio Tinto has been unable to contact the employees, said Ian Head, a company spokesman in Sydney.
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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