Business

Chinalco denies attacking Rio's credibility

July 10, 2009

Chinalco has denied that vice-president Lu Youqing ever attacked Rio Tinto's business credibility in a conversation with a Chinese journalist that was reported in the China Securities News.

The Herald and Age newspapers today reported, from the Chinese article, that Mr Lu said Rio Tinto had no business credibility and that it was not unlikely that a few staff were suspected of breaching law.

But Chinalco has now sought to remove the original article from the China Securities News website on the grounds that Mr Lu had been misquoted and never impugned the character of Rio Tinto executives in his conversation with the Chinese journalist.

"Chinalco note reporting of comments attributed to Mr Lu in China's Securities Daily that were critical of Rio Tinto. These comments were incorrectly reported and do not reflect the company's view,' the company said in a statement this afternoon.

The company also issued a statement of sympathy for the Rio Tinto staff who have been detained by the Shanghai State Security Bureau.

Chinalco has been in contact with Rio Tinto expressing our mutual concern for the current situation with their staff," the statement said. "We have also reasserted that the situation is in no way related to any commercial dealings between Rio and Chinalco."

More Related Coverage

China accuses Rio exec of bribery

10 Jul China has accused Rio Tinto executive Stern Hu of bribing staff from Chinese steel companies during iron ore negotiations this year.

Spurned Chinalco denies role in Rio arrest

CHINALCO has launched its first frontal attack on Rio Tinto's integrity as the China-Australia spy scandal threatens to derail the political and perhaps economic relationship between the countries.

Rio concerned about bribery claims

10 Jul Rio Tinto says it is surprised by accusations that four staff in China have been involved in bribery, adding it is not aware of any evidence supporting the claims.