- Published: Wednesday, 01 April 2009 05:00
Australia Grapples with Chinese Influence
By Steve Fiscor, Editor-in-Chief
Last month, E&MJ offered details on the $19.5 billion strategic partnership between Aluminum Corp. of China (Chinalco) and Rio Tinto. The proposed deal would give Chinalco substantial interest in some of the Anglo-Australian miner’s iron ore, copper, and aluminum operations, but Rio Tinto would retain operational control. It would also raise Chinalco’s equity interest in Rio Tinto to 18% from 9.3%. This deal has some major implications for the global mining business and how it interacts with local governments and state-owned companies.