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CHINALCO’s interest in resources acquisitions and Anglo American’s early moves into China back up the speculation that the two companies could engage in some form of partnership.

Chinalco is the Chinese state-owned resources group tipped as a potential suitor to rescue Anglo American from the unwelcome advances of Xstrata, or as a co-investor in Anglo’s MMX Minas- Rio iron-ore project in Brazil.

Chinalco and Anglo American have declined to comment on the speculation that, after Anglo’s board rejected Xstrata’s all-share merger proposal last month, Anglo has been seeking a white knight in either Chinalco or Brazilian iron-ore giant Vale. Vale, though, has said publicly that it is not seeking acquisitions at present.

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trends copper chinalco anglo

Chinalco is set to walk away from a $19.5bn deal with Rio Tinto following weeks of wrangling over the terms of the transaction, in a dramatic U-turn that sent shares in the Anglo-Australian miner sharply lower.

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trends copper rio chinalco

Jan du Plessis, Rio Tinto's new chairman, said the completion of Chinalco's proposed $19.5bn (£13.4bn) capital investment in the Anglo-Australian mining group would be his priority as he took over from outgoing chairman Paul Skinner.

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trends copper Rio Chinalco

Australia's competition regulator has cleared Chinalco's planned $19.5bn investment in Rio Tinto, ruling that the transaction was unlikely to "unilaterally decrease global iron ore prices below competitive levels".

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trends copper rio chinalco

Rio Tinto's proposal to raise $19.5bn from Chinalco is seen by the mining group's board members and shareholders as an "option" to follow if there are no superior alternatives in the next three months, according to some Rio shareholders.

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trends copper rio chinalco

The big question now is what happens to Rio Tinto. Chinalco, the Chinese miner that bought a seat at the dealmaking table in February with an audacious dawn raid of Rio shares, will play a key role.

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copper trends rio bhp chinalco