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Allens and Baker & McKenzie have acted on a joint venture in which Rio Tinto entered into a non-binding memorandum of understanding with Chinalco in relation to the Simandou iron ore project…
Allens and Baker & McKenzie have acted on a joint venture in which Rio Tinto entered into a non-binding memorandum of understanding with Chinalco in relation to the Simandou iron ore project in Guinea.
Rio Tinto currently owns 95 per cent of the Simandou project, with the remaining five per cent owned by the financing arm of the World Bank, the International Finance Corporation.
For Allens, the deal represents a continuation of the global nature of Rio Tinto's business, which has previously seen the firm work on matters across Asia, Africa, Europe, North and South America and Australia.
"An important part of our relationship with Rio Tinto is being able to work alongside them on global transactions wherever and whenever required," said Allens partner Scott Langford.
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