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Rio Tinto and Chinalco’s listed subsidiary, Chalco, have completed the formation of their joint venture (JV) to develop and operate the Simandou iron ore project in Guinea, following the completion of all Chinese regulatory approvals. As a result, a consortium led by Chalco has made an earn-in payment of US$1.35 billion, in line with an agreement reached with Rio Tinto in March 2010.
Rio Tinto today set out its ethical track record to support its role as the official metal provider for the 4,700 medals for the London 2012 Olympic and Paralympic Games.
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