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Rio Tinto in the first half revenue rose 55% still refuse to buy BHP Billiton

    BHP Billiton announced in a record performance last fiscal year, its takeover target Rio Tinto also announced yesterday the same growth in the semi-annual results, and continue to reject BHP Billiton's takeover offer.
    However, booster cables the "two extension" agreed that the demand for mineral products will weaken the outside world's expectations, "two extension" battery clip of the future is still full of confidence in the demand for minerals.

    According to Rio Tinto yesterday announced the end of last June 30 in the first half of the performance reports earnings for Rio Tinto in the first half of the $ 5,474,000,000, up 55% over the previous year, mainly benefiting from its acquisition of Alcan in 2007, tow rope and the transaction strong demand from China.

    A few days ago, BHP Billiton also announced earnings last year,ratchet tie dowm benefiting from soaring commodity prices, particularly the strong Chinese demand, net income also reached record levels in fiscal year 2007 to 2008 distributable profit rose 12.4% YoY to 15.4 billion Australian dollars.

    In addition, the already published results of the "two extension" of iron ore and aluminum products, annual output of aspects in the creation of a new annual record. However, the outside air is beginning to see the future of the mining market, that with more minerals production, supply will increase gradually to meet demand, minerals rising trend of recent years will be reversed.

    In response, Rio Tinto said in the semi-annual report on the prospects of a full confidence. Rio Tinto chairman Paul Skinner said: "Although downside risks to the stock market is still concerned, but in view of continued strong commodity demand, low inventory levels and supply side continues to face many restrictions, we believe that mineral is still room for growth. "

    Rio Tinto, BHP Billiton is still on the proposal to acquire "off a thousand miles." Paul Skinner reiterated that Rio Tinto, BHP Billiton shares for 3.4 shares of its stock-for-1 Rio share offer too low, "the first half of the performance of the Group together with our growth prospects, the board supported the view that the force extension on its own strength can provide good value for shareholders. "

    Currently, BHP Billiton, Australia and Europe are waiting for competition authorities of the "two extension" application for approval of merger, acquisition only after the implementation of specific actions. According to procedures, the Australian side will be presented for approval on October 1 the results of the European Commission will have 12 months until the final expression of attitude.

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