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China Detains Rio Tinto Employees Warns Australia to Back Off
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by Barbara McPherson | July 18, 2009 at 03:50 pm
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Four employees of the giant mining company, Rio Tinto, have been detained in China. The authorities in China allege that four Rio Tinto employees engaged in corporate espionage. China has since warned Australia to back off from involvement in trying to extricate the Rio Tinto employees. One of the detainees, Stern Hu, is an Australian citizen.
China has warned Australia against what it calls "interference" in the case of four employees of mining giant Rio Tinto who have been detained for alleged corporate espionage.
Commenting on the case, a Chinese foreign ministry spokesman criticised "noise'' from Australia about the arrests, which he said was tantamount to "interference in the judicial sovereignty of China.
The arrests came on July 5 while the giant mining company was negotiating prices to supply Chinese steel mills. Rio Tinto is a major supplier of iron ore to China's steel mills.
China's booming steel industry consumes up to 60 per cent of global iron ore production and Beijing is pressing for deep price cuts after two years of increases totalling more than 120 per cent.
Rio Tinto has pulled out its research staff from China following the detaining of the four employees.
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Barbara McPherson
Nanaimo, Canada
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at 22:54 on July 18th, 2009
This is an interesting story Barbara. I have been watching at CCTV-9 Dialogue the only English TV Channel in China. Apparantly they are accused of bribes..in fixing or manipulating the trade price for buying steel. Lots of outfits are hoarding steel..forcing the price to go up to get higher profits.....
I really don't think China has any secrets except the one I provided in being able to make steel without mining for iron ore. I know of a way to make steel without using iron ore. My idea will close all the mines in the world... Very interesting indeed.
Rev. Jermano