The Miners

BHP lobbied to block Chinalco's Rio Tinto bid

(China Daily/Agencies)
Updated: 2009-10-17 11:40
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BHP Billiton Ltd, the world's biggest mining company, lobbied Australia last year to stop Aluminum Corp of China's proposed $19.5-billion investment in Rio Tinto Group, the Sydney Morning Herald reported, citing a former government official.

BHP executives, including Chairman Don Argus, met officials including Prime Minister Kevin Rudd and Treasurer Wayne Swan to discuss the proposed investment, the newspaper said. E-mails from BHP were circulated throughout the government, the Herald cited former Treasury official Stephen Joske as saying.

Related readings:
BHP lobbied to block Chinalco's Rio Tinto bid Chinalco buys $1.5B Rio Tinto shares
BHP lobbied to block Chinalco's Rio Tinto bid Rio Tinto-Chinalco $19.5B deal foiled
BHP lobbied to block Chinalco's Rio Tinto bid Chinalco registers for Rio Tinto rights issue
BHP lobbied to block Chinalco's Rio Tinto bid News Analysis: Rio Tinto scraps marriage with Chinalco

Rio Tinto rejected Chinalco's proposed deal in June in favor of a share sale and an iron ore joint venture with BHP.

Meanwhile, BHP has agreed to buy United Minerals Corp for $188 million, countering a bid by a Chinese firm to take a stake in the iron ore explorer.

The bid is conditional on China Railway Materials Commercial Corp not completing the purchase of an 11.4-percent stake in United announced last month.

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