Chalco Clears Reported Bid for BHP

Chinese aluminium giant Chalco said they didn’t take part in the reported bid for 9 % stake in BHP Billiton . Zhang Qing, Chalco's investor relations manager, said that she has seen the report in an Australian newspaper, noting that the company is still focusing on aluminum and alumina operations. “I have not been informed of any plans on other metals,” Zhang said, referring to BHP Billiton's diverse portfolio of operations. Rumor of Chinese entities to bid for BHP Billiton arose after Chinalco took a joint stake with Alcoa in Rio Tinto Ltd earlier this year, which was at the time believed to have been an attempt by China to gain a greater say in iron ore pricing, and as a potential blocking stake in BHP ’s hostile takeover of Rio. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.