Rio Tinto signs China deal

Monday, March 22, 2010

The Anglo-Australian mining company Rio Tinto says it has signed a deal with China to develop a massive iron ore mine in West Africa.

China's state-backed metals group Chinalco will pay $1.3bn (£0.85bn) for 47 percent of the Simandou project in Guinea.

The tie-up comes amid tensions between China and Australia over next week's trial of four Rio employees on bribery and commercial spying charges.

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