Brazil Miner CVRD Not In Talks Now With Alcan

Brazilian mining giant Companhia Vale do Rio Doce, or CVRD, is not in talks to purchase Canadian aluminum producer Alcan at this time, the company said in a filing with the Brazilian Securities and Exchange Commission, or CVM,Thursday. While Rio Tinto reached an agreement to buy Alcan for $38.1 billion in cash, topping a hostile offer from Alcoa by roughly a third, analysts said that rival bids from CVRD,Anglo American and BHP Billiton still can’t be ruled out. CVRD, significantly, did not rule out talks with Alcan at a future date. “(CVRD) is always looking at opportunities to reinforce its strategic position, which could involve the acquisition of assets in the mining and metals industry,” said the release.