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Word: rios (lookup in dictionary) (lookup stats)
Dates: during 2000-2009
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...China's state-owned aluminum company Chinalco announced it would inject $19.5 billion in cash into Anglo-Australian mining giant Rio Tinto. More than $12 billion of that will give the Chinese company, which already owns 9% of Rio, a share of some of the mining firm's most valuable mines. The remainder of the cash injection will go into bonds that can eventually be converted into an equity stake, which would double Chinalco's overall ownership position in Rio. The $19.5 billion deal amounts to the largest foreign investment any company in China has ever made. Two days...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

...economics behind both deals is clear enough - and are so compelling from China's standpoint that there are likely more to come. Both Rio and Oz Minerals have been crushed by the global recession's effect on demand for what they produce. Both have seen their value plunge as a result, and now labor under enormous debt burdens. Rio's stock price peaked at $552 a share last spring, then fell to a 52 week low of $55. The stock last traded at $112 on the New York Stock exchange. Oz Mineral's stock price hit AU$0.55 when trading...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

...Chinalco, a huge consumer of iron ore, the deal provides potential pricing power over Rio, one of the world's three largest ore producers. Every year, steel and aluminum producers worldwide negotiate with miners over new contracts. For the past few years the mining companies have driven up prices relentlessly. Shan Shanghua, executive secretary of China's Iron and Steel Association, recently hinted that Chinese buyers will have some additional clout at the bargaining table...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

Those plans include a thin-film solar factory, along with investments in wind and solar and in carbon-trading projects throughout the world. Most significantly, Masdar is pioneering a model carbon capture and sequestration (CCS) project with the energy and mining giants BP and Rio Tinto that will take CO2 emissions from industry in the emirate and store the CO2 in abandoned oil wells. Since even the most optimistic energy projections assume we'll be burning fossil fuels for decades, perfecting CCS is vital to controlling emissions--and who would be better suited to cleaning up fossil fuels than...

Author: /time Magazine | Title: Abu Dhabi: An Oil Giant Dreams Green | 2/12/2009 | See Source »

...said Maki. Limiting the number of new venues helps; good maintenance of several sites used during the 1964 Tokyo Games means that 23 of the 34 venues earmarked for 2016 already exist. That's a similar proportion to London's plan, though slightly higher than that of Chicago or Rio de Janeiro...

Author: /time Magazine | Title: In Hard Times, Olympic Plans Go On a Budget | 2/10/2009 | See Source »

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