BHP Billiton tried to stop the Chinese deal with Rio Tinto - Wikileaks

Cable leakage, published in the Sydney Morning Herald to the weekend showed that BHP fears that the investment grant China overview for important information about commercially. He also said BHP, the world largest minor has played well in the situation.

"Chief Treasurer Wayne Swan told us repeatedly that BHP played his cards with consumed skill, partly due to the increasing from the BHP CEO Marius Kloppers as President of BHP that Don Argus has taken the lead in lobbying the Government [the Government of the Australia] with the able assistance marginalization of well-connected VP BHP governmental relations, Bernie Delaney," said a cable sent on June 7.

"BHP was lobby widely to block the agreement, highlighting the concerns of Chinese investment and the possibility that seats on the Board of Directors Rio give important Chinese officials noticed of price negotiations annual iron ore producer," he said.

After the collapse of commodity markets in 2008, Rio has been at the service of $remained debt for the purchase of Canadian aluminium Alcan group. Rio initially proposed a "strategic investment" in Rio by Chinalco, which would have doubled game group at 18pc Chinese State-owned. The proposal met with opposition from the pre-emption rights ignored Rio shareholders and was abandoned in favour of a question of rights and a joint venture with BHP iron ore in the Pilbara, region of the Australia. The proposed joint venture has been abandoned in October this year it came under increasing opposition of the steel industry and regulators in the world.

The cables also said that Rio gave security officials Chinese proof on jailed, including Stern Hu, Australian Executive, former staff who headed the unit in China Rio iron ore.

However, acting Prime Minister and the Australia Treasurer Wayne Swan has questioned the accuracy of the disclosed cables. "Simply because they are contained in cables has featured conversations, does not necessarily mean that these cables are accurate, based or context," said Mr. Swan. "Because it was a business case is a question that eventually the Government decision."

BHP and Rio two refused to comment.


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