Rio Update: Charges, Representation & Farce

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Well, we have covered the Rio story so far (see: “Oh Rio…”; “Rio & China’s Arrested Development” and “The Perfidy of Rio”), so feel we must press on…

The “Rio 4”, who have now been charged with bribery (but not the more difficult spying / state secrets charge), have appointed leading law firm Duan & Duan to represent them.

Rio’s actions may have cost China a lot (perhaps not the US$100 billion being talked about by some), but there has certainly been a cost. And to add insult to injury, China’s handling of the case has done its reputation no favours.

Lex at the FT calls the situation a farce, and it may be that it is a farce based, to some extent, on lack of control by the Chinese Iron and Steel Association (it has been suggested to us that loss of face by a certain individual may have a lot to do with the aggressive actions in the case).

More news will follow, but here are the recent tweets from our ChinaBlogTweets:

• Duan & Duan for Rio 4 RT @sinostream: Rio suspects hire top attorneys 9:17 AM Aug 15th from TwitterFon

• Rio RT @TweetChina: China Charges 4 Employees of Rio Tinto, but Backs Off Allegations of Spying – NY Times1:27 PM Aug 12th from TwitterFon

• RT @chinaherald: Op-Ed Contributor Beijing’s Rio Tinto Washout – New York Times 3:41 PM Aug 11th from TwitterFon

• Accounting 4 Rio RT @leonacraig: PS the guy who came up w/ the figure, now says it was just his opinion 10:51 AM Aug 10th from TwitterFon

• Rio RT @TheLexColumn: Iron ore price negotiations in China have descended into farce 10:10 AM Aug 10th from TwitterFon

• Rio. China’s reaction may have cost it more. RT @leonacraig: China says RioTinto spying cost it $100bil/6yr 9:59 AM Aug 10th from TwitterFon

3 Responses to “Rio Update: Charges, Representation & Farce”

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