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Chinalco and Rio Tinto announce joint venture

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Chinalco and Rio Tinto announce joint venture

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Aluminium Corporation of China has signed a joint venture deal with Anglo-Australian mining company Rio Tinto to develop one of the world’s biggest iron ore deposits in the west African country of Guinea.

The two billion euro project marks a turn around for the two companies.

Last year they scrapped a share and assets tie-up over Australian government fears it would give a foreign company too big a strategic stake.