China not to accept the proposal to sell Guinea iron ore mining right

Published: 28 Apr 2009 01:36:00 PST

Apr.28 MetalBiz--Wang Fuwen, president of ChinalcoOverseasHoldings, claimed that China had received a proposal to sell an African iron ore mining program right bought by RioTinto,RTP, in view of the influence upon the international society brought about by relevant deals, and therefore refused it.

It is said that the Guinean government proposed last year to sell right owned by Rio Tinto of iron ore project Simandou in local area to China's state-owned mining enterprises, and infrastructure projects investment as terms of interchange.

It is reported that the Chinese government encourages domestic enterprises to invest in Africa, but also takes international influences led by the relevant investment to consideration.