Rio gets govt support

Rio Tinto's $44 billion purchase of Canadian aluminium producer Alcan has received support from Quebec. Economic Development Minister Raymond Bachand said the Government is happy with the deal because Rio had pledged to honour commitments to invest in the Canadian province. Last December the Canadian Government offered Alcan a 30 year loan of around $350 million dollars. It also gave the group long-term subsidised power contracts to support aluminium projects in the area. Quebec retained the right to cancel the benefits if Alcan was taken over. But Rio Tinto will respect existing community agreements Alcan has in place.