Greater China

China Metals eyes Rio Tinto’s assets in Canada

Beijing: China Metals Corporation, a state-owned mining conglomerate, said it is considering acquiring Rio Tinto’s iron ore assets in Canada for $4bn.

Wang Jionghui, Assistant President of China Metals confirmed that the company had preliminary interest in the project, adding that the assets are just some of many at which it is looking. "We have invested in the neighborhood before and we are familiar with the area," he said.

China Metals had bought Montreal-based Anvil Mining in 2011 for $1.3bn and it also operated Beaver Brook antimony mine in Newfoundland for three years up until this January. [20/06/13]

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