Aluminum Corp. Partners with Rio Tinto on Guinea Project
Forget about the tensions that have been seething under the service over the last year between Australia and China, as demand for raw materials is changing their relation positive again as Aluminum Corp. China (NYSE:ACH) and Rio Tinto (ASE:RIO) are partnering in a Guinea project.
With Rio Tinto short on cash to develop their properties in Guinea and Mongolia, they are partnering with Aluminum Corp. to get access to capital in order to forge forward faster.
The Guinea mine will be co-developed by the two companies in the new partnership, with Chinalco taking a 47 percent stake in the venture.
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