Saudi Arabian Mining Co (Maaden), which plans to sell shares to the public, expects to complete a joint venture with Rio Tinto for an aluminium complex by August, its chief executive said over the weekend. “We are hoping to finalize the aluminum joint venture with Rio Tinto by August,” Maaden Chief Executive Officer Abdullah Dabbagh told reporters on the sidelines of a conference in Dubai. The 670,000-ton-per-year smelter should cost about $7.5 billion, Dabbagh said. Maaden and Alcan - which was acquired by Rio Tinto - greed last April to develop what would be one of the world's largest aluminum-making projects, including a smelter, an alumina refinery and a power station. __
