Chinalco teams up with Rio Tinto

    June 10, 2011 | BY

    Candice Mak

    Aluminum Corporation of China (Chinalco) has entered into a joint venture (JV) agreement with Australian-British Rio Tinto Group. The Chinese metal producer…

    Aluminum Corporation of China (Chinalco) has entered into a joint venture (JV) agreement with Australian-British Rio Tinto Group.

    The Chinese metal producer will hold a 51% interest in the JV, and Rio Tinto will hold the remaining 49%. The JV will explore new mineral deposits in China, focusing on copper in the beginning and possibly extending its search to coal and potash. The deal is still awaiting regulatory approvals.

    Clifford Chance represented Chinalco, with teams led by Kathy Honeywood in London and Tim Wang in Beijing. Allens Arthur Robinson advised Rio Tinto.

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