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Rio Tinto, Chinalco in talks for new JV in Guinea

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Australian Rio Tinto is in talks with Aluminum Corp of China Ltd (Chinalco) for the joint venture to develop iron ore mine in the West African country Guinea, according to the Wall Street Journal.

Chinalco, under the agreement, will offset Rio’s costs to the project about US$6 billion in Guinea mine. And Rio invests about US$10 million a month to develop and explore the mine.

However, this report came after one year that Rio previously stopped US$19.5 billion the cash injection from Chinalco.

News Date 16 Mar 2010 14:47:32 reported by Judy Lin

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