Chinalco sees Rio as key partner

Chinalco, the Chinese aluminium group, has no planmobile crusher for sale in south europes to sell down its shares in Rio Tinto, viewing the mining house as a key strategic partner as Chinalco expands overseas. “We can’t go out to fight alone,” said Chinalco chairman Xiong Weiping, explaining that co-operation with global miners was essential for overseas development.

“With Rio being one of the top mining companies in the world, Chinalco can learn a lot from them, [including in operational management, asset operation and risk management.]” His remarks on strategic co-operation underline the challenges that Chinese miners face as their expansion plans run into political opposition in resource-rich countries such as Australia. Chinalco has seen its own share of disappointments there, including a failed $19.5bn investment in Rio in 2009. Chinalco is Rio Tinto’s largest shareholder, controlling nine per cent of the global miner, in a symbiotic relationship that has also seen the two companies sign joint ventures for projects in Guinea and in China...