Rio Tinto Board Recommends Formation of Aluminium, Copper and Iron Ore Joint Venture - 0 views
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Colin Bennett on 13 Feb 09The Boards of Rio Tinto plc and Rio Tinto Limited (together "Rio Tinto") announce today that they are unanimously recommending to shareholders a transaction with Aluminium Corporation of China ("Chinalco"), a leading Chinese diversified resources company. The transaction will forge a pioneering strategic partnership through the creation of joint ventures in aluminium, copper, and iron ore as well as the issue of convertible bonds to Chinalco, which would, if converted, allow Chinalco to increase its existing shareholding in Rio Tinto.