Rio Tinto and its major Chinese shareholder have jointly acquired control of a low-carbon aluminium business in Brazil for $1.3 billion, in a sign of how the miner could structure any future merger deal with Glencore.
Rio and the Aluminium Corporation of China, known as Chinalco, have jointly acquired a 68.6 per cent stake in Companhia Brasileira de Aluminio, for almost $US902.1 million ($1.3 billion). Companhia Brasileira de Aluminio owns electricity generators, bauxite mines, alumina refineries and aluminium smelters.
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