Chinalco Chairman: Considering Raising Stake In Rio Tinto

SHANGHAI -(Dow Jones)- Aluminum Corp. of China, or Chinalco, is likely raise its stake in Rio Tinto PLC (RTP), and the company is talking with Alcoa Inc. (AA), its bidding partner on the issue, Chinalco President Xiao Yaqing said Tuesday.

Chinalco teamed up with Alcoa Inc. (AA) earlier this year to buy a combined stake of about 12% of Rio Tinto’s London shares, or 9% of the full company, for US$14.05 billion.

Xiao also told reporters that the company is considering more overseas investment, but didn’t elaborate.