Minmetals Eyes $4B Stake In Rio Tinto Iron Ore Unit

Law360, New York (June 18, 2013, 4:18 PM EDT) -- State-owned metals titan China Minmetals Corp. is considering buying a stake in the Canadian iron-ore operations of sputtering mining giant Rio Tinto PLC valued at $4 billion, a top executive at the company reportedly said on Tuesday.

The confirmation from Minmetals Assistant President Wang Jionghui makes his company the first Chinese operation to join the contest, even preliminarily, for the 59 percent stake in Iron Ore Co. of Canada that the world’s second-largest mining company reportedly put up for sale in March, according to the Wall...
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