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China Detains Mining Executive on Spy Charge

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posted on Jul, 8 2009 @ 07:44 PM
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China Detains Mining Executive on Spy Charge


www.nytimes.com

An Australian executive from Rio Tinto, one of the world’s biggest mining companies, is being held by Chinese officials on suspicion of stealing state secrets and could be charged with espionage, an Australian government official said Wednesday
(visit the link for the full news article)




posted on Jul, 8 2009 @ 07:44 PM
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Mr. Smith said he did not believe that the case was related to commercial matters, or to Rio Tinto’s decision last month to scrap a planned $19.5 billion investment in the mining company by Chinalco, a state-owned Chinese company

But analysts called the timing of the case peculiar


Sounds fishy. I just so happened that around the same time that a major deal with the Chinese fell through, here comes an espionage charge.
The article further states


The scrapped Chinalco-Rio Tinto deal, which would have effectively expanded Chinalco’s stake in Rio to 18.5 percent from 9.3 percent, drew stiff political opposition in Australia, where mineral riches have fueled prosperity and some residents have begun to fear China’s regional power."


But this isn't the first time espionage tensions have occured between the two countries.


Last April, Australian newspaper articles said Chinese intelligence agents tried to hack into Prime Minister Kevin Rudd’s phone and e-mail when he was in Beijing for the Olympics in August


Maybe some of our Australian members can shed some light on the situation.

-E-

www.nytimes.com
(visit the link for the full news article)


[edit on 8-7-2009 by MysterE]



posted on Jul, 8 2009 @ 09:18 PM
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I'm reading the local newspaper now and it's saying:

"Rio has also been locked in bitter negotiations over iron ore sales contracts, with China digging in and refusing to accept a benchmark price that was agreed to by steel makers in Japan, Korea and Taiwan."

"But there have been reports Rio had moved some of it's Chinese negotiating team from Shanghai to Hong Kong and Singapore amid fears that their phone calls were being bugged and information was being passed to the China Iron and Steel Association."

So it appears a combination of the failed Chinalco bid and Rio taking measures to stop the Chinese from spying on their negotiators, have led the Chinese to arrest the executives on spying charges.

Welcome to the future of doing business with China.

www.businessday.com.au

www.guardian.co.uk

www.chicagotribune.com



posted on Jul, 8 2009 @ 10:07 PM
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reply to post by Cthulwho
 


Very informative update Cthulwho, thanks! I hope the best for the businessmen involved.

-E-



posted on Jul, 28 2009 @ 11:25 PM
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[edit on 28-7-2009 by MysterE]



posted on Jul, 28 2009 @ 11:30 PM
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This is old news.
Fail.



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