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Thread: China slams Chinalco rejection
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[quote=MARRIE,370528]He went on to say "the purpose and principle were mutually beneficial". "Now the decision made by Rio Tinto, I believe, has not only very much disappointed the related Chinese company but has caused strong reactions from the iron and steel industry and also the general public in China." He did not elaborate on what these strong reactions would mean for the general public. The ABC asked him specifically what the Government thought about the merging of BHP Billiton and Rio Tinto operations. "I have nothing to say about the commercial cooperation between these two companies," he said. "But we do hope that the market price of international minerals remains stable and that the mineral resources market can be fully open." The General Secretary of the China Iron and Steel Association, Shan Shanghua, was not beating around the bush about the BHP Rio deal. "The merger of Rio Tinto and BHP has a strong colour of monopoly," he said. "The Chinese iron and steel enterprises strongly oppose it." For China the bottom line is the price of iron ore. If it has to start paying more than it thinks is fair then this merger will be blamed again and again. Either way, if China and Australia were in a relationship, they would not be holding hands in public at the moment. [/quote]
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