BEIJING, June 9 (Xinhua) -- Chinese companies will
continue to pursue the principle of equality, mutual benefit, friendship and
honesty in carrying out trade and investment outside China, Foreign Ministry
spokesman Qin Gang said here Tuesday.
In response to a question about Rio Tinto's
withdrawal from a deal with Aluminum Corporation of China (Chinalco) at a
routine press conference, Qin said the Chinese government has always supported
Chinese companies to carry out international cooperation according to market
rules and international practice.
According to the official website of Chinalco, the
Australia-based mining giant has withdrawn on a 19.5 billion U.S. dollar
alliance that Rio Tinto and Chinalco reached on Feb. 12.
"We are filled with strong disappointment about this
outcome," Chinalco said in an online notice dated June 5.
Rio Tinto announced on June 5 that it will pay 195
million U.S. dollars to Chinalco for separation according to an earlier
agreement.
Qin said the unilateral decision of Rio Tinto has not
only rendered disappointment from the related Chinese company, but also caused
strong repercussions from relevant industrial sectors and the public in China.
Rio Tinto said it will form a cooperative venture
with BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up
a joint venture to run the iron ore resources of both companies in west
Australia.
News Analysis: Rio Tinto scraps marriage with
Chinalco
CANBERRA, June 9 (Xinhua) -- The unilateral scrap of
its marriage with Aluminum Corp. of China, or Chinalco, last Friday by
Australia's Rio Tinto was a "stunning" news to most of the Chinese who have been
eyeing on the progress each day on the hopeful transaction, Chinalco president
Xiong Weiping told Xinhua Friday in an exclusive interview in Canberra.
He said that no one had been as sincere as Chinalco
in promoting the transaction after the news of inking an agreement with Rio
Tinto came out in February. But Rio Tinto has eventually been proved that it has
been cheating in the marriage. Full story
Australia welcomes Chinese investment
despite collapse of Chinalco deal
CANBERRA, June 5 (Xinhua) -- Australian Prime
Minister Kevin Rudd asserted that Australia still welcomed Chinese investment
despite Rio Tinto's decision to scrap a deal with China's Chinalco on Friday.
Rudd said the government was not opposed to the deal
on the grounds that foreign funds generated jobs. Full story
Rio Tinto announces deal with Chinalco
dead
CANBERRA, June 5 (Xinhua) -- Australian Rio Tinto Ltd
has unilaterally announced its deal with Chinese Aluminum Corporation of China
(Chinalco) is dead, and the company will instead hold a 15.2 billion U.S.
dollars rights issue.
Rio Tinto chairman Jan du Plessis said in a letter to
shareholders Friday the planned deal with Chinalco was now dead and his company
would pay it a 195 million U.S. dollars break fee. Full story
Chinalco confirms deal breakup with
Rio Tinto, expresses disappointment
BEIJING, June 5 (Xinhua) -- Aluminum Corp. of China, or
Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped
the proposed 19.5 billion U.S. dollars of investment by Chinalco, and Rio Tinto
would pay a break fee of 195 million U.S. dollars to the Chinese aluminum maker.
Chinalco Chairman Xiong Weiping said the company is "very
disappointed" at the result, as it has been making constructive efforts in
negotiation and has made appropriate revisions to the deal the two sides entered
into on Feb. 12 this year. Full story
Chinalco bid to invest in miner heads
for trouble
BEIJING, June 5 -- Aluminum Corp of China's proposed 19.5
billion U.S. dollars investment in Anglo-Australian mining giant Rio Tinto
appeared to be heading toward failure last night as the miner turns to other
options for fund raising.
A statement explaining the breakup will be issued early
today, said a spokesman for the Chinese company, also called Chinalco. Rio's
board gathered in London overnight for a meeting on the issue and discussion of
a US$195 million breakup fee. Full story
