Wed, September 09, 2009

Rio Tinto in spy probe

Rio case exposes multinationals' lack of responsibility

The arrest of four employees of the Anglo-Australian mining giant Rio Tinto Ltd. on charges of allegedly illegally obtaining commercial secrets and bribery has exposed some multinationals' lack of legal responsibility. Full story

BACKGROUND

Company overview - Rio Tinto

Rio Tinto (RIO) is a major international resources company. The company has dual listings, as Rio Tinto Plc in London and Rio Tinto Ltd in Australia.

POLL

Do you think the Rio spy case will have a negative effect on price negotiations between China's steel mills and iron ore producers?
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Next year's iron ore talks in jeopardy

2009-09-09 02:37:22 GMT China Daily Next year's negotiations over iron ore prices now look in jeopardy after Rio Tinto finally ended this year's talks with Chinese steel mills without agreement just two months before the 2010 round was due to begin.

A new code of conduct

2009-09-07 06:08:18 GMT China Daily The Chinese government's probe into the Rio Tinto commercial spying case may not have a major impact on foreign companies' business investment decisions about China.

Rio suspends iron ore talks with China

2009-09-04 12:16:21 GMT SINA.com SYDNEY: Iron ore suppliers and China have broken off price talks and it is unclear when they will resume, an executive of Rio Tinto Ltd., which is negotiating for the suppliers, said Friday.

Bribery cases prompt call for probe

2009-08-16 23:14:15 GMT China Daily Prosecutors have been urged to "seriously probe" the dealings of Chinese executives and officials who have allegedly become embroiled in a culture of bribery with foreign firms.

Iron ore price negotiations

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CISA: Iron ore price negotiation still underway

2009-07-31 04:09:55 GMT Xinhua English BEIJING, July 31 (Xinhua) -- China is still in talks with the world's major iron ore firms for the annual supply deal, Friday's Shanghai Securities News reported, citing Shan Shanghua, secretary-general of the China Iron & Steel Association (CISA).

Rio Tinto case won't harm Sino-Australian trade, Ministry says

2009-07-15 14:47:55 GMT Xinhua English BEIJING, July 15 (Xinhua) -- The detention of employees of Anglo-Australian mining giant Rio Tinto on spying charges is an individual case and will not hurt Sino-Australian trade, said Yao Jian, spokesman of China's Ministry of Commerce (MOC), at a press briefing Wednesday.

China says steel talks continue despite Rio arrest

2009-07-14 08:54:06 GMT SINA.com SHANGHAI – Strained price negotiations between China's steel mills and iron ore producers are continuing, a Chinese official has said, despite Rio Tinto's lead negotiator being arrested on spy charges.

No deal yet on iron ore contracts

2009-07-09 02:28:48 GMT China Daily China's negotiations with three major suppliers for iron ore pricing were still continuing, according to the country's second largest mill, Hebei Iron and Steel Group.