China is investigating executives of five Chinese steelmakers in connection with spying accusations against four detained Rio Tinto Ltd employees, a government newspaper reported today.
The employees of the world's third-largest mining company, including one Australian, were detained July 5 during iron ore price talks.
State media say they are accused of bribing Chinese steel company employees to obtain confidential information on China's negotiating position in the talks.
Executives of Baosteel Group, China's biggest steel producer; Anshan Iron & Steel Group; Laigang Group and Jigang Group are under investigation, the China Daily reported, citing unidentified industry executives. It gave no other details.
An executive who oversees iron ore purchases for another major producer, Shougang Group, was detained last week, according to news reports.
Australia is pressing China for details of the charges against the Australian and has warned the affair could discourage foreign companies from doing business in China.
The employees were detained as Rio was acting as lead negotiator for global iron ore producers in talks with Chinese mills on the price for annual supply contracts.
Content Guide
