China Aluminum and Rio Tinto develop large iron ore today rose 6.66%

NetEase Finance July 30 The Chinese aluminum industry yesterday signed an agreement with the Australian Rio Tinto company to develop a large iron mine in Guinea, Africa.　　28th, the listed companies in Hong Kong and Shanghai, China's aluminum industry have been suspended for major issues.　　Today, the Chinese aluminum trading trading, and then trading was opened, due to the adjustment of the market today, the Chinese aluminum industry eventually received 10.89 yuan, or 6.66%, a day deal 688 million yuan, more than twice times more than weekdays. In March this year, Chinalco, the parent company of Chinalco, signed a memorandum of understanding on non-binding cooperation with Rio Tinto, announcing that the two sides will jointly develop the Rio Tinto-held world-class iron ore project in West Africa, Guinea. The memorandum of understanding shows that Chinalco will invest 1.35 billion U.S. dollars in capital and set up a joint venture with Rio Tinto's 47%:53% stake, holding a 95% per cent stake in the Simao project.　　The two sides will also set up joint sales companies to orient iron ore products to the Chinese market. Public data show that the Simao du Fu Iron project in West Africa, Guinea, for world-class large-scale open hematite, has been controlled and inferred reserves of 2.25 billion tons, the total project resources may be as high as 5 billion tons, the grade can reach 66% to 67%. Tom Albanese, Rio Tinto's chief executive, called it "the only untapped high-grade iron ore resource in the world". Industry insiders predict that the project down to the postpartum expected iron ore production capacity of not less than 70 million tons/year. A number of research institutions analysts said the cooperation for the Chinese aluminum industry is a significant positive.