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The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market. Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share. Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said. Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon.

Yet this new strategy is taking the shape of a formula of “loans-for-energy,” which involves a mix of state-owned and private actors.

Put more of China’s $2 trillion foreign reserves into hard assets -- Zhang Guobao, vice minister of the National Development and Reform Commission and head of the NEA, had pointed out in a signed article published in December 2008 in the People’s Daily (a strong indication of being authoritative statements of government policy) that China should seize the timing of the oil price slump on the  international market to increase imports and Chinese enterprises are encouraged by the government to expand overseas (China Daily, March 9).

Port commissioners voted in 2004 to purchase the 700-acre site in Troutdale, which represented the largest remaining zoned industrial property within the urban growth boundary. It was the home of an aluminum smelter for 60 years, but it had been idled since the summer of 2002. The property was a Superfund site, and remediation to industrial standards was completed by Alcoa in 2006. The redevelopment effort has involved the U.S. Environmental Protection Agency, the Oregon Department of Environmental Quality, Business Oregon and the Cities of Troutdale and Fairview

Chinalco and Alcoa jointly announced today that the two companies intend to explore opportunities to expand their commercial relationship by identifying strategic ventures that will benefit from the companies’

n connection with these matters, Alcoa and Chinalco have also entered into an agreement by which Chinalco will redeem the convertible note issued by Shining Prospect Pte. Ltd., a wholly-owned subsidiary of Chinalco, to Alcoa last year for the funding of Shining Prospect’s purchase of ordinary shares in the London-listed Rio Tinto plc. The original principal amount of the note would have been payable on February 1, 2011. Under the terms of the agreement entered into today, the note will be redeemed by Chinalco for a total of US$1.021 billion payable to Alcoa in three installments (over a period ending on July 31, 2009), and Alcoa’s lien on and indirect interest in Rio Tinto shares held by Shining Prospect will end. The total redemption amount represents the discounted net present value of the principal amount of the note (and the total redemption amount will be further discounted if any installment payment is made earlier than contemplated by the agreement). The agreement also provides that Alcoa's pro rata portion of the dividends paid by Rio Tinto to date since the issuance of the note as and when recovered by Shining Prospect will be paid to Alcoa.

SHANGHAI — The state-owned giant Aluminum Corporation of China and the Aluminum Corporation of America stunned analysts and investors Friday by buying a minority stake in Rio Tinto, the world’s third largest mining company.

“The Chinese are probably the best capitalists that communism will ever have given birth to,” said Michelle Applebaum, head of an independent steel equity research firm in Chicago.

Last year, China’s state-controlled sovereign wealth fund — another increasingly visible and controversial measure of the new wealth of the nation — invested in the private equity firm Blackstone. Later, it paid about $5 billion to buy a small stake in Morgan Stanley.

“In Durban, I expect governments to find a way forward for the Kyoto Protocol so we can make a broader comprehensive climate agreement possible,” said Mr. Ban in remarks prepared for delivery to an event on climate change organized by the mission of the United Kingdom to the UN.

Mr. Ban urged governments to launch the Green Climate Fund, which was established last year in Cancun, Mexico. “But it must not be an empty shell – a fund in name only. Governments must provide the $100 billion that was pledged. This would be a welcome concrete outcome at Durban.”

Earlier in the month, Gov. Haley Barbour pushed forward with a $75.25 million incentive package to bring Calisolar, a solar silicon company, to the old section of the Industrial Park

The project, expected to begin this fall or early next year, promises to bring 951 jobs to the a

the work Lowndes County officials have put into the Industrial Park made it an attractive choice, namely the ready ability to provide the 170 MW of power the company will require each day.