Rio Tinto hard into a blind alley or heavy aluminum cooperation – Rio Tinto, alu
For aluminum, the Rio Tinto area is an important mining company, its own resources, not only in aluminum, but also are important to China. HC steel mesh Reputation in China plunged into a crisis and has maintained a hard line of the world's second largest Iron ore Producers Rio Tinto eventually released in the near future some goodwill to the Chinese, and repeat with the major shareholder in the Chinese aluminum further Cooperation Possible. Industry sources say that Rio Tinto's relationship with Chinese enterprises should be back on track. Rio Tinto chief executive Aibo
on last Friday, said Rio Tinto is currently seeking to establish better relations with China, and has and aluminum on possible joint ventures engaged in preliminary discussions. He acknowledged that Rio Tinto is currently facing many challenges in China. This is a case of self-expanding
after the outbreak of Rio Tinto few insightful remarks on China are not so tough and sharp.
7 month, Rio Tinto four employees were arrested on suspicion of commercial crime, making the domestic steel enterprises and traders with access to Rio Tinto to reduce or stop, turn CVRD, India and mining. The Rio Tinto has shown persistently strong, more alienated from their own and the Chinese government customers.
For China Steel Association and FMG 2009 reached Iron ore price Agreement, BHP Billiton and Vale are reported to remain silent, and only once again jumped out to Rio Tinto, said, "do not have any reference for" Rio Tinto is too negative in its hard-line attitude in China.
Both sides will benefit, the Big Dipper is a lose-lose. Upstream and downstream industries will enable the two sides against each other interests are damaged. Analysts believe that Rio Tinto needs to change its hardline image, otherwise at a disadvantage in the Chinese market. Although both insist the starting price are not promoted, but Brazil's CVRD itself and decide to start a wave of flexibility in the Chinese offensive in the ad, said its procurement in China is also a large number of machines and equipment that is at least the expression of long-term cooperation with Chinese clients desire.
It is noteworthy that Aibo on This time, "friendly" attitude is the first half of this year in Rio Tinto after the earnings announcement made. Notice shows that Rio Tinto first half net profit of 24.5 million, compared to 6.95 billion U.S. dollars last year dropped 65%, marking its biggest decline ever.
The same time, from the Chinese demand for iron ore market, Rio Tinto to make an important contribution to the profitability of the first half, Rio Tinto 27% of sales are achieved in the Chinese market. China, as the bulk metal major consumer of commodities, but also Rio Tinto's largest customer. This also prompted Rio Tinto and China had to think of the importance of customer relations, both sides urgently return to normal. At present, the case of a downgrading of the Rio Tinto, Rio Tinto and China also made of aluminum in the relationship between customers and the level of tension began to ease.
Aibo years, said the aluminum can not be completed before the investment plan disappointed. However, he believes, from the perspective of aluminum, the two companies to work together with the long-term vision.
In fact, as early as 23 July, Mr Xiong, general manager of Al in Beijing to attend the "Australia-China cooperation?? Western Australian mineral resources and infrastructure investment," When the interval between the meeting had expressed willingness to discuss further cooperation and Rio Tinto possible.
This was considered the attitude of aluminum on a change in Rio Tinto, Rio Tinto breach of contract because, after a vice president of aluminum in an interview Shihai cursed Rio Tinto "ungrateful."
Although the talks broke down earlier, but aluminum and Rio Tinto in the mining giants of the world for further cooperation is economically rational.
In February 2008, 59 pounds of aluminum per share, totaling seven billion pounds of high-priced acquisition of British company Rio Tinto 12% of the shares. However, expanding the purchasing power of the shares in the aluminum block is a time when metal prices rising, so buy expensive, and now the price has not yet returned to the bulk metal was high. Last week, Rio Tinto share price in the UK is about 23 pounds, so the original purchase Fukui aluminum, about 40 million pounds of aluminum is equivalent to being stuck with Rio Tinto depth.
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