This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8192933.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Rio shares fall on China claims | Rio shares fall on China claims |
| (about 3 hours later) | |
| Shares in Anglo-Australian mining firm Rio Tinto have fallen after China intensified its spying allegations against the company. | Shares in Anglo-Australian mining firm Rio Tinto have fallen after China intensified its spying allegations against the company. |
| China's State Secrets Bureau website said Rio Tinto had spied on Chinese steel mills for six years and helped to inflate iron ore prices. | China's State Secrets Bureau website said Rio Tinto had spied on Chinese steel mills for six years and helped to inflate iron ore prices. |
| It said Chinese steelmakers had lost 700bn yuan ($102bn; £61.2bn) through overpaying for imported iron ore. | It said Chinese steelmakers had lost 700bn yuan ($102bn; £61.2bn) through overpaying for imported iron ore. |
| Rio's shares shed 3.3% after the report was published at the weekend. | |
| The report said: "This six-year espionage case involved corruption, information gathering and spying." | The report said: "This six-year espionage case involved corruption, information gathering and spying." |
| Spying row | Spying row |
| Last month, China accused four Rio Tinto workers of stealing state secrets, which the company has denied. | Last month, China accused four Rio Tinto workers of stealing state secrets, which the company has denied. |
| Australia has repeatedly sought a quick resolution of the case, in which one Australian and three Chinese Rio Tinto staff have been detained. | Australia has repeatedly sought a quick resolution of the case, in which one Australian and three Chinese Rio Tinto staff have been detained. |
| China, which detained Australian Stern Hu on 5 July, has told Australia not to interfere in the legal process. | China, which detained Australian Stern Hu on 5 July, has told Australia not to interfere in the legal process. |
| Analysts said the latest development in the Rio Tinto spying allegation case had added to investors' jitters. | Analysts said the latest development in the Rio Tinto spying allegation case had added to investors' jitters. |
| "It has to be a concern for anybody marketing anything into China," said Tim Barker, an analyst at BT Investment Management. | "It has to be a concern for anybody marketing anything into China," said Tim Barker, an analyst at BT Investment Management. |