Rio Sees Possible China Partner in Bauxite Mine, Australian Says

Rio Tinto Group Chief Executive Officer Sam Walsh says finding a Chinese partner to help fund the company’s $1.9 billion bauxite project in Australia is one of many options under consideration, The Australian newspaper reported Saturday.

Rio would retain a majority interest in the project, Walsh told the newspaper in an interview. Other options under consideration include third-party leasing of “some parts of equipment,” Walsh said in the interview.

The company first highlighted interest from China in the project, near Weipa in the state of Queensland, in November last year. Alf Barrios, Rio’s chief executive of aluminum, said at the time that the company had “great interest by a number of Chinese players” in the project.

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