Mar 16 2009
Mining Industry: Rio Story Continues…
Here’s the hitch…
In January and February, I told you about Rio Tinto’s (RTP:NYSE) search for cold, hard cash. I went into greater detail in the pages of Taipan Insider, our exclusive communique to Taipan Publishing Group’s subscribers.
I thought the most recent deal - the $19.5 billion deal that would give China’s state-owned aluminum company Chinalco, a 50% stake in RTP’s mining assets and $7.2 million in convertible bonds - was done and done.
Not so…
Australia announced it was extending its review of the Rio Tinto/Chinalco deal for a further 90 days.
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