Search results: Rio Tinto

Rio Tinto Scraps Chinalco Deal

It was not a good day for China’s steelmakers. What BHP Billiton couldn’t accomplish in iron ore by buying all of Rio Tinto, it will now accomplish in a 50/50 mining joint venture between the two companies. As a result of its new agreement with BHP, Rio Tinto decided to scrap the proposed $19.5 billion […]

Chinalco Discusses Raising Its Stake In Rio Tinto

Not surprisingly, Chinalco and Rio Tinto are in discussions regarding the former taking a larger stake in the Australian mining company and purchasing minority stakes in some of its units. MTD has followed the Rio Tinto story over the past 18 months, and in our last article, Rio Tinto: Time For A Package Deal, I […]

Rio Tinto: Time For A Package Deal

Rio Tinto: Time For A Package Deal

What a difference six months make. Can you believe it was only six months ago that Rio Tinto shattered steel stock prices across Asia when it announced that Baosteel, China’s biggest steel group, agreed to pay up to 97 percent more for its iron ore? And even that wasn’t enough for BHP Billiton, the other big […]

More on BHP, Rio Tinto and China

While most people were focused on the Super Tuesday election results in the U.S., overseas the fate of Rio Tinto, which I’ve written about here recently, saw some developments. First, BHP Billiton Wednesday raised its bid for Rio Tinto to US$147.5 billion, in a proposed share swap. This comes after China’s Chinalco and U.S.-based Alcoa […]

Chinalco and Alcoa Take Stake in Rio Tinto

As a buyer and user of steel and other commodities in China, I was very happy to read that Chinalco, a large state-owned Chinese aluminum company, joined U.S. Alcoa in taking a 12 percent, $14.05 billion stake in Rio Tinto on Friday. Chinalco also said it might buy more shares in the miner to derail […]

High Noon for China and Rio Tinto

If China’s leaders were ever wondering what else to do with the country’s massive foreign currency reserves, BHP Billiton has just given them one idea: take US$130 billion or so and buy Rio Tinto. BHP’s offer last week to merge the two companies by offering three of its shares for every one of Rio Tinto’s […]

Chinalco and RioTinto: A Good deal For Everyone!

Chinalco and RioTinto: A Good deal For Everyone!

Chinalco and China entered the big league of global mergers and acquisitions with the announcement today that Chinalco plans to invest $19.5 billion in Rio Tinto. The announcement confirmed rumors that have been in the market over the past several days that the two companies were discussing a possible deal. MTD has covered the Rio […]

Chinalco and Rio Face Opposition Down Under

Chinalco and Rio Face Opposition Down Under

I don’t get it. Outside capital is nowhere to be found in any part of the world today. Because companies and private equity sources are on the sidelines, governments in Europe are injecting billions of euros into their domestic banking institutions, and the United States government is investing hundreds of billions of dollars into the […]

China’s Ore War

Expect it to be a long one. A lot’s at stake. U.S. Commerce Secretary Gary Locke may urge China to follow “due process” and communicate with the Australian government in the Rio Tinto case. Australian Prime Minister Kevin Rudd may warn China that its foreign trading partners will be closely watching the outcome of the […]

China Blocks Coke’s Bid for Huiyuan Juice

Last week, China rendered its long awaited verdict: it blocked Coca-Cola’s bid to buy one of China’s largest juice companies for $2.4 billion on antitrust grounds. In case you haven’t been following the story, Coca-Cola made its offer to acquire China Huiyuan Juice Group Ltd. in early September 2008. Building upon the momentum it gained […]