UPDATE:China CISA Consultant Unsure Ore Talks Can End In Jul
July 15 2009 - 12:08AM
Dow Jones News
China's iron ore term price negotiations with global mining
majors are still going on, a consultant to the China Iron and Steel
Association said Wednesday.
Zou Jian, a consultant and former executive director of the
association, said he is unsure whether the talks, now entangled in
China's espionage charges against four employees of
Anglo-Australian miner Rio Tinto Plc (RTP), could be completed by
the end of July.
When asked if the Rio Tinto spy case is related to local iron
ore business consolidation, he said, "The foreign ministry has
already said this is an individual case, and it has no relation to
other things."
It isn't clear whether media reports on a widening government
probe implicating Chinese steel firms are reliable, he said.
On reports that China plans to tighten rules on iron ore
imports, Zou said, "China is always planning to reshape its iron
ore import system."
The government's long-term strategy has always been to reduce
the number of iron ore import licenses, he said.
He declined to confirm media reports Tuesday that suggested the
government was planning to cut 20 licenses.
-Juan Chen contributed to this report, Dow Jones Newswires; 8610
6588 5848; juan.chen@dowjones.com