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Fear and loathing at BHP and Rio Tinto

Fear and loathing at BHP and Rio Tinto

Spying, intrigue, fears over the safety of BHP’s CEO: welcome to the rough-house world of Noughties iron ore price negotiations.

When Rio Tinto sent its iron ore negotiating team to China in 2009, they stayed in Shanghai’s Four Seasons Hotel. But no one else was on the same floor. Other guests had been placed elsewhere, presumably to facilitate eavesdropping.

Meanwhile, the BHP board was taking added precautions to ensure the safety of chief executive Marius Kloppers when he was engaged in sensitive iron ore price negotiations with the Chinese steel mills in China.

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Andrew Clark
Andrew ClarkSenior writerAndrew Clark was a senior writer at The Australian Financial Review.

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Original URL: https://www.afr.com/policy/economy/fear-and-loathing-at-bhp-and-rio-tinto-20220321-p5a6e3