ACH Achp

 

TIDMACH TIDMRIO TIDMBLT 
 
RNS Number : 4310T 
Aluminium Corp of China 
05 June 2009 
 

 
 
5 June, 2009 
 
 
 
 
Rio Tinto withdraws its recommendation for Chinalco transaction 
 
Aluminum Corporation of China ("Chinalco") confirms this morning the 
announcement made by the Rio Tinto Group ("Rio Tinto") concerning the withdrawal 
of the Rio Tinto boards' recommendation for the transaction announced jointly by 
Chinalco and Rio Tinto on February 12 and the termination of the Co-operation 
and Implementation Agreement signed on that date. 
 
 Mr Xiong, President of 
Chinalco commented: 
 
"It is with great regret that we are confirming the 
announcement made by Rio Tinto this morning concerning the withdrawal of the Rio 
Tinto boards' recommendation of the transaction announced on February 12.  In 
recent weeks Chinalco has worked hard to respond constructively and engage with 
Rio Tinto to make appropriate amendments to the transaction terms announced in 
February to better reflect the changed market background and feedback from 
shareholders and regulators.  As a result, we are very disappointed with this 
outcome. We continue to believe our proposal presented an outstanding 
value-creating opportunity for all Rio Tinto shareholders and would have 
provided a strong platform for a long term strategic partnership between the two 
companies." 
 
"Chinalco will continue to explore opportunities to advance its 
strategic objectives and in the meantime will monitor developments at Rio Tinto 
as the company's current largest single shareholder." 
 
 "We note the 
announcement of the joint venture in the Pilbara between Rio Tinto and BHP 
Billiton and will continue to monitor developments in relation to this 
project." 
 
=-ends-- 
 
 
Contacts: 
 
 
+---------------------------------------+--------------------------------------+ 
| Media advisors to Chinalco,           | Media advisors to Chinalco, UK       | 
| Australia:                            | Maitland                             | 
| FD Third Person                       | Philip Gawith                        | 
| Jim Kelly                             | Mobile: +44 (0) 7887 954 048         | 
| Mobile: +61 (0) 412 549 083           | Office: +44 (0) 20 7379 5151         | 
| Office: + 61 (0) 2 8298 6100          | Liz Morley                           | 
| Amanda Lee                            | Mobile: +44 (0) 7798 683 108         | 
| Mobile: +61 (0) 410 774 618           | Office: +44 (0) 20 7379 5151         | 
| Office: + 61 (0) 2 8298 6100          |                                      | 
+---------------------------------------+--------------------------------------+ 
For further information on Chinalco refer to: www.chinalco.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RSPIIFLRRVIEIIA 
 

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