CIC SEEKS TO EASE DEAL TENSION

Lou Jiwei, CIC chairman, also held talks with Colin Barnett, premier of the resource-rich state of Western Australia, and with Fortescue Metals, Australia's third-largest iron ore producer.

Mr Lou sought clarity on Australia's foreign investment rules that last year were strengthened to highlight “national interest” considerations when investments are made by state-backed entities or SWFs.

Days after Chinalco's deal with Rio, Beijing-based metals producer Minmetals launched a recommended A$2.6bn (US$1.7bn) bid for Oz Minerals, a diversified miner struggling to refinance A$1.2bn of debt.

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