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April 1 is the traditional annual iron ore contract prices start date, the iron ore price negotiations are still deadlocked now. Aluminum and Rio Tinto joint venture involved in the global iron ore market, the aluminum will affect the investment in iron ore negotiations in West Africa What? To fight the rising prices of iron ore has been, from 40% to 50%, until now, their prices 90 percent, Rio Tinto, BHP Billiton, the three mining giant Vale, from 2010 to agreement on iron ore price negotiations long attitude has been strong, rising three major iron ore mine is asking, in their frenzied behind the asking price, which means this year, China's steel industry may have to pay more than 100 billion yuan more than the cost, but the throw to the aluminum to the olive branch trying to do? March 19, according to a non-binding memorandum of understanding with the relevant provisions of the project currently holds 95% of the West Mount Du Rio Tinto stake, announced it will hold interest in the West Mount Du transfer project with the Aluminum Company joint venture. Aluminum Corporation will invest 1.35 billion U.S. dollars, was 47% joint venture interest. 19 Rio Tinto said it has already signed Aluminum Mountain West iron ore project cooperation agreement Du. Aluminum will invest 1.35 billion U.S. dollars, were 47% joint venture interest. According to West Mount Du project agreement, Rio Tinto aluminum and will each send three to the Board of Directors of the joint venture. Rio Tinto is responsible for the operation, the aluminum will be involved in the management. The signing of this agreement to ensure industrial raw materials in China, especially iron ore supply step along the road. Right now, the global mining giant iron and steel enterprise customers with the negotiations on the price refused to give the annual benchmark iron ore price negotiations more difficult. The announcement also said the mine is expected to Mrs West Mountain no less than 7,000 tons of annual capacity. The two sides will form a joint venture sales company, will of iron ore products are sold to the Chinese market. Mine grade of 66% -67%, reserve estimates more than 2.25 billion tons. This grade of iron ore generally considered to be of high quality ore. Rio Tinto said that, in addition to iron ore development, the joint venture also includes the construction of railways and infrastructure. Rio Tinto chief executive, Aibo years (TomAlbanese) that has long been believed that Rio Tinto, Rio Tinto and the aluminum can be conducted on the basis of mutual benefit cooperation in large projects, Rio Tinto Aluminum is at (0) (0) Comments Cipian article Other reviews initiated Wealth forum topic information Please enter verification code project on West Mount Du excellent partner. Rio Tinto said the Rio Tinto and the aluminum will now proceed to finalizing a formal, binding agreement. Rio Tinto added that in addition to unilateral injection of funds in addition to aluminum, fully operational before the project need substantial additional development costs. Joint venture after the completion of related matters, Rio Tinto subsidiary Simfer will continue to be responsible for the project development and management. International Finance Corporation (InternationalFinanceCorp., IFC) has a West Mountain Du item remaining 5% of the shares, the Government of Guinea also has to purchase the item up to 20% interest in the option. If the State Government to exercise the option, Rio Tinto, Chinalco and the International Finance Corporation's effective interest will be reduced proportionally. April 1st is coming, but now hoarding, exacerbating the current price of steel and iron ore remains high, the addition of aluminum, iron ore negotiations will affect toward it? We are high quality suppliers, our products such as nozzle test bench , China power test bench for oversee buyer. To know more, please visits laminar flow bench.
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