China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

Chongqing firm buys Rio Ghana assets -- National Business Daily

Chongqing-based private mining company, Bosai Minerals Group Company Ltd. has agreed to buy Rio Tinto's 80 percent stake in a Ghana bauxite mine, a Bosai manager told National Business Daily Monday.

Debt-laden Rio Tinto is thought to be selling the assets because of poor local infrastructure and sliding demand for minerals. Bosai refused to confirm the reported price of 30 million US dollars citing a non-disclosure agreement as the deal is still pending government approval.

CNOOC to buy Ghana oil field -- Oriental Morning Post

China's third largest oil producer China National Offshore Oil Corp (CNOOC) is in talks with Ghana National Petroleum Corporation to bid for a stake owned by US oil company Kosmos in Ghana's Jubilee oil field, which has predicted reserves of 1.8 billion barrels of light, sweet crude.

The bid is expected to rival Exxonmobil's offer of 4 billion US dollars.

China-Russia joint venture to develop Russia oil fields -- Oriental Morning Post

China-Russia Energy Investment Co., Ltd., a subsidiary of Hong Kong-registered Rus Energy Investment Group, announced Monday the acquisition of a 51 percent stake in a Russian oil and gas company that gives it exploration and development rights to two East Siberian gas fields with combined reserves of 60 billion cubic meters.

It is the first transnational joint venture company to control gas fields in Russia.

Bank of China's vice president may join IMF-report -- 21st Century Business Herald

Rumors have been circulating that Zhu Min, vice president of the Bank of China, is to take up a senior post in IMF. Zhu would be the first Chinese to take a top post in the global body.

Zhu has been vice president of Bank of China since August 2006.

CISA calls for revision of annual iron ore price talks -- China Business News

Luo Bingsheng, vice-chairman of China Iron and Steel Association (CISA), yesterday called revision of the annual iron ore price talks, saying "The current rules of the game no longer match the situation, and need adjustment." He gave no further details.

Wu Xichun, a consultant for CISA, said: "Times have changed and we need to set a new rule to decide when to increase the iron ore price and when to reduce the price instead of the top three mining companies dominating."

China wants to combine the negotiations on 2009 and 2010 contract iron ore prices, said Luo.

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