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Article: RIO TINTO MARCHES INTO CHINA
- Article from:
- AsiaInfo Services
- Article date:
- October 31, 2007
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AsiaInfo Services
10-31-2007
Rio Tinto Marches into China
BEIJING, Oct 31, 2007 (SinoCast via COMTEX) -- Australian iron ore giant Rio Tinto Ltd. finds a new way to step in China's aluminum sector by acquiring Canada's Alcan Inc., which has also taken stake in some Chinese aluminum production and processing companies.
Alcan now holds a 50% stake in the third production line of Ningxia-based Qingtongxia Aluminium Group, which is the second largest aluminum maker in China. Moreover, the foreign investor is planning to finance the Chinese company's expansion to gain a better position in it.
The Canadian company also signed an agreement with Dingsheng Aluminium, a private Chinese ...