Rio Tinto wants to work with Chinalco: chief

SYDNEY (AFP) --

Anglo-Australian miner Rio Tinto Limited (Public, ASX:RIO) said Tuesday it was interested in collaborating with Chinalco, months after rejecting a massive cash injection from the state-owned Chinese firm.

Rio chief executive Tom Albanese also said the company hoped for a "timely and transparent resolution" of the case against top executive Stern Hu, who was arrested weeks after the 19.5 billion US dollar tie-up collapsed.

"We are still keen to work with Chinalco in future on projects of mutual benefit," Albanese told a conference in Perth.

"It is too early to say what these might be but I am encouraged that we have had some recent engagement," he added.

"We want the underlying common interests between Rio Tinto Limited (Public, ASX:RIO) and China to once again drive us towards ever-deepening co-operation."

Rio snubbed Chinalco's offer in favour of a joint venture in Western Australia with bitter rival BHP Billiton in June. Albanese said a binding agreement was expected by December 5.

In July, the arrest of Australian passport-holder Hu and three of his colleagues amid fraught iron ore contract talks also drove a wedge between Canberra and Beijing.


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Published: Tuesday 10th of November 2009 01:00:42 AM
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