Rio Tinto Group | featured news

Four employees of mining giant Rio Tinto pleaded guilty Monday to taking bribes, lawyers and an Australian diplomat said, in an embarrassing case seen as part of a harsh new attitude toward foreign business in China....

China says the case will help bolster foreign investment, others fear a chilling effect. Rio Tinto’s bribery drama reached a new climax when China formally -- and finally -- arrested four employees of the Australian mining giant on Wednesday. But there are signs that China is beginning to play down the matter by charging the four with less serious crimes than expected, perhaps over fears that China's sovereign fund, along with thousands of state-owned companies, might otherwise be unwelcome in overseas markets in the future.

The Anglo-Australian mining giant rejected Chinese allegations that its employees detained in Shanghai were involved in bribery and stealing state secrets.

Rio Tinto Group, the third-largest mining company, is considering a plan to raise as much as $15 billion in a stock sale after rejecting an investment from Aluminum Corp.