Beijing Hints At Flexing Its New Antitrust Muscles On Behalf Of Jilted Chinalco

There was obviously some wounded pride following the collapse of Chinalco’s proposed $19.5 billion investment in Rio Tinto. But to add insult to injury, Rio is now proposing an iron-ore joint venture with BHP Billiton in Western Australia.
Such a combination would account for 80% of the exports from one of China’s main sources of supply, [...]

BHP Billiton Drops Rio Tinto Bid Cheering Steelmakers

A rare piece of good news for China’s beleaguered steelmakers: BHP Billiton is walking away from its bid for Rio Tinto. Aluminum Corp. of China, Chinalco and other Chinese steelmakers were among the most outspoken about fears that the combination of two of the largest natural resources companies would have too much control over iron [...]

Chinalco Gets Australia’s Limited Nod For Rio Tinto Stake

Australia is walking a fine line over Chinese investment in its natural resources. It has approved Chinalco’s recent purchase of a minority stake in Anglo-Australian miner Rio Tinto, but said any further share purchases will require prior approval. Nor can Chinalco have a seat on Rio’s board, Wayne Swan, Australia’s Federal Treasurer, ruled on Sunday.
State-owned [...]

China May Want To Buy Into BHP Billiton

Reports from Australia ahead of that country’s prime minister’s visit to Beijing that China wants to elbow its way into the takeover by BHP Billiton, the world’s largest mining company, of its rival Rio Tinto.
In February, it acquired a 9.3% stake in Rio for $14 billion through state-owned Chinalco. Wanting to secure raw materials for [...]

Once Bitten Twice Shy

State-owned China National Offshore Oil Co (CNOOC) ran into a wall of xenophobia that stopped dead its bid for the U.S. oil company Unocal in 2005. With the world even more sensitive to China’s global scavenge for natural resources, state-owned Aluminum Corporation of China (Chinalco) is seeking to preempt similar objections to its investment in [...]

Rattling The Can

Already nervous about the proposed $100 billion-plus merger between two natural resources giants, BHP Billiton and Rio Tinto, China, one of the world’s biggest consumers of the iron ore, aluminum and other minerals that BHP and Rio Tinto dig up, has jumped in with both feet.
Aluminum Corp. of China (Chinalco) and the U.S.’s Alcoa staged [...]