two sides to every coin - spot on......every company will be looking hard at their bottom line ... they will divest un-economical businesses/regions and look to invest where they can get a bigger bang for their buck - they will be reviewing where they spend, but they will spend. RIO pulls the plug on one project, comes up with another. Chalco shuts down unprofitable smelters, looks to developing one downunder...we can all google til the cows come home...but ALL WE REALLY NEED TO WORRY ABOUT IS WHERE WE FIT INTO CHALCO's FUTURE THINKING. Chalco officials did not come down under, spend the night in Coen pub, just for fun...they were here to talk business. Let's see what they come up with.
10/15/08 14:09
Rio Tinto to develop bauxite mines in India, invest US$2.2 bln
Agra (ANTARA News/Asia Pulse) - Global mining giant Rio Tinto (ASX:RIO) is planning to develop bauxite mines as a precursor to investing about US$2.2 billion to set up an alumina refinery and aluminium smelter in India, a top company official said Tuesday.
Without divulging plan details, Rio Tinto India managing director Nik Senapati said the company "has a long-term commitment for India".
The mining major has already applied for a reconnaissance permit, prospecting licence and mining leases for iron ore and diamond in the country.
Source:
Business in Asia Today - Oct. 15, 2008
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