Rio Tinto shares slide on China spy claims

August 10th, 2009

Rio Tinto shares opened down in London on Monday after a report in China claimed the miner conducted industrial espionage in the country’s steel industry, costing the Chinese state more than £60bn in unnecessary overpayments.

Daily Telegraph

The fall – down 1.4pc to £23.88 – was not as sharp as in Sydney where the shares fell as much as 3.3pc at one stage.

An article published on a website controlled by the Chinese State Secrets Bureau also claimed that large amounts of “intelligence and data” had been found on Rio’s computers following the arrest of four Rio executives on spying charges last month.

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