By Graham Ruddick

Mining group Rio Tinto has withdrawn as an investor to a $10bn (£6.5bn) Saudi aluminium project as it attempts to reduce its debt mountain amid the global economic slowdown.

The company said it would shift from being an equity partner to just providing advice and technical assistance because the "global financial and economic crisis has changed Rio Tinto's outlook for project development throughout the world".

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Posted by boyang at December 17, 2008 4:34 AM