Chalco Senior is Worry BHP’s purchasing to Rio

News from Beijing, Nov. 14: president of Chalco said in Wednesday it is worry of BHP Billion’s purchase to Rio Tinto. But Luo Jianchuan said it not clear that Chalco is deliberately opposing their combination because it wants to buy some of Rio’s shares. It also said the material supplying focus on one big enterprise is very important to Chalco. BHP Billiton has sent a 140 billion dollars offer to Rio Tinto, but turn off by it. BHP Billiton suggests it is ready to make a long-term combat, it also said if it succeeds, they will hold a 30 billion share buyback project. Banks any analysts who hasn’t involved in this purchase said BHP probably seek cooperation with a China company. Chalco is extending its business from aluminum and alumina to copper and special metals. BHP refined copper takes up 15% of China’s demanding. China iron manufacture said it worried their combination may affect their iron ore bargaining power. BHP said it will takes up 27% of globe’s iron ore output.