Mines Minister Say Guinea Does Not Recognize Rio’s Deal with Chalco
Rio’s Deal With Chalco Is Not Recognized by Guinea, Thiam Says
July 29, 2010, 1:52 PM EDT
By Ougna Camara
July 29 (Bloomberg) — Guinea does not recognize Rio Tinto Group’s agreement to sell a $1.35 billion stake in the Simandou iron ore deposit to Aluminum Corp. of China Ltd., known as Chalco, Mahmoud Thiam, Guinea;s mines minister, said in an interview in Conakry, the capital, today.
While Guinean government approval is not a condition for the formation of the joint venture Rio continues to consult the government, a spokesman for the company said.
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