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SUBJECT:
Chinalco (Auminum) sees Rio as key partner - FT
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FROM:
M
mandrews@ips.edu
DATE:
2011-04-04 13:33:32
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<F0A35AFB-55D5-41BB-B358-D8AE5105A30D@ips.edu>
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C
Christina Maimone
<christina@ips.edu>
C
Curt Hastings
<curt@ips.edu>
D
Devon Archer
<darcher@rosemontseneca.com>
E
Eric Schwerin
<eschwerin@rosemontseneca.com>
H
Hunter Biden
<hbiden@rosemontseneca.com>
R
Ronnie Mainieri
<ronnie@ips.edu>
T
Thad Brown
<thad@ips.edu>
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Chinalco sees Rio as key partner Chinalco, the Chinese aluminium group, has no plans to sell down its shares in Rio Tinto, viewing the mining house as a key strategic partner as Chinalco expands overseas, the FT reports. “We can’t go out to fight alone,” said Chinalco chairman Xiong Weiping, explaining that co-operation with global miners was essential for overseas development. His remarks on strategic co-operation underline the challenges that Chinese miners face as their expansion plans run into political opposition in resource-rich countries such as Australia.
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