Chalco Says Discussions on Australia Project Terminated
Reuters Africa reports that Aluminum Corp of China (NYSE:ACH) said its discussions over possible development of bauxite resources in Australia had ended .
Articles Tagged "australia"
Australian Customs has studied China Aluminum Exports Dumping Claim
Australia is investigating the alleged dumping of aluminum extrusion products by China, the world’s leading producer of aluminum, after an application by domestic producer Capral Ltd. For full story, click here
Rio Tinto announced cut in jobs due to low aluminum demand
Rio Tinto Ltd. declared that it would cut more than 700 jobs at Australian mines due to a drop in aluminum demand and prices. For full story, click here
Chinalco deal drives Rio to appoint new chairman
In an effort to calm political turmoil in Australia over its $19.5 billion tie-up with China’s Aluminum Corp. of China Ltd., Rio Tinto PLC announced the appointment of a new chairman of the company. For full story, click here
Australia govt offers Aluminum Corp, Rio Tinto review
Australia’s government has put forth a review of Aluminum Corp. of China, or Chinalco’s, proposed US$19.5 billion investment in Rio Tinto Ltd in a sign that the deal faces intense scrutiny. The latest shareholder to raise its voice against the deal is Australian Foundation Investment Co. Ltd. which reported that Chinalco is being given significant [...]
Aluminum producer’s squeezed
Aluminum producer’s cutbacks have done little to stabilize the metal’s free fall. In London, the price of aluminum fell to $1,321 per tonne from $1,345. In New York, it was selling for 59 cents per pound. Six months ago, the metal’s going rate was $1.50 per pound.
Did Beijing foil the BHP Rio takeover?
If there was anyone who had reason to celebrate the failed BHP takeover of Rio Tinto, it would be China, and more specifically Chinese smelters. Last February, Aluminum Corp. of China together with Alcoa, paid $14.1billion for a 12% stake in Rio-Tinto’s London listed shares. Conspiracy theorists said the move was engineered by Beijing.
Birla Minerals halts Aussie project
Aditya Birla Minerals, a subsidiary of aluminium giant Hindalco Industries Ltd, has suspended work on the Ezperanza South Project at its Mount Gordon operations in Australia. For full story, click here
