China takes a stake in Rio Tinto
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China teams up with US aluminium giant Alcoa to buy a 12% stake in mining firm Rio Tinto for $14.05bn.
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Mining giant Rio Tinto Ltd./Plc.   said on Thursday it has agreed to pay $38.1 billion, or $101 per common share, for Canadian aluminum company Alcan Ltd. .
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Global miner Rio Tinto was near a deal  to buy Canadian aluminum giant Alcan Inc. for about $100 per  share, or $37 billion, The Wall Street Journal Online reported  on Thursday.
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Anglo-Australian mining giant BHP Billiton says it is offering to buy rival Rio Tinto in a deal worth about Â£75bn.
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BHP Billiton sweetened its bid for Rio Tinto Wednesday, lifting its valuation of the mining giant to 147.4 billion dollars as it presses for a mega-takeover to exploit a resources boom driven by China.
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The move came after Chinese officials expressed concern over BHP Billitonâs plans to link up with Rio Tinto in a merger that would give the combined company a dominant position in iron ore.
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SYDNEY/LONDON  - Anglo-Australian miner Rio Tinto Ltd/Plc has agreed to buy Canadian aluminum company Alcan Inc. for $38.1 billion, in a bid to create the world's biggest aluminum company.
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Brazil has recognized China as a market economy, Chinese President Hu Jintao said Friday after meeting with Brazil's President Luiz Inacio Lula da Silva.
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Rio Tinto Ltd.'s $38.1 billion takeover of Alcan Inc. is set to reap benefits from not just China's appetite for aluminum, but also the bauxite and alumina needed to make it, analysts said on Friday.
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Global miner Rio Tinto Plc    said on Monday it was to invest $300 million developing  Eagle, a high-grade nickel and copper mine in Michigan, United  States.
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China's state-owned aluminum giant Chinalco and U.S. partner Alcoa Inc  had agreed to buy up to 14.9 percent of Rio Tinto Plc  this month and had up to $24 billion to spend, according to a January 30 memo.
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The Chinese mining group Chinalco said that it had teamed up with the American aluminum producer Alcoa to buy a 12 percent in Rio Tinto.
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BHP Billiton must decide by Wednesday if it will proceed with a bid for Rio Tinto after China intervened with a strategic investment that could sharply increase the price of the merger.
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Brazil recognized China as a market economy on Friday, a move that should make it easier for the two countries to do business. Brazilian oil giant Petrobras and China Petroleum and Chemical Corp.
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Alcoa and China's Chinalco are "monitoring developments" after mining giant BHP Billiton's bid for Rio Tinto.
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BHP Billiton sweetened its hostile takeover bid for Rio Tinto on Wednesday by lifting its valuation of the mining giant to 147.4 billion dollars as it seeks to exploit a resources boom driven by China.
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China's state-owned Chinalco said Monday it had no plans to increase its stake in miner Rio Tinto after acquiring 12 percent of the London-listed arm of the company in a joint share raid with Alcoa Inc.