Rio Tinto chief pledges closer ties with China

Rio Tinto chief Tom Albanese pledged a closer relationship with China, saying it is of great importance to the company.
China's imports of iron ore and crude oil reached record highs in July on the back of strong domestic demand, even as overall trade showed a steeper decline compared to the same period last year.
China Daily
Holding out for better prices
Chinese negotiators have backed down from a demand for a 45 percent cut in iron ore prices, settling for a 35 percent reduction from Australia's Fortescue Metals Group Ltd (FMG) and asking for the same deal with SA Vale, Billiton BHP Ltd and Rio Tinto Group.
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