Rio Tinto clears anti-trust hurdle in $US38 bln Alcan bid

Rio Tinto Ltd is a step closer in its $US38 billion ($A45.91 billion) takeover of Canadian aluminium producer Alcan Ltd after clearing another regulatory hurdle. The world's third largest mining company on Monday received US anti-trust approval for the planned takeover of Alcan. The approval comes three weeks after Rio Tinto received confirmation that the takeover met the requirements of the continuity agreement between Alcan and the government of Quebec. That agreement was signed in 2006 between Alcan and the government of Quebec as part of a $US1.8 billion ($A2.17 billion) investment program for the Saguenay-Lac-Saint-Jean region. Alcan's takeover will position Rio Tinto as the world's largest aluminium producer.