Chalco not Applied for Increasing Stake in Rio

After Aluminum Corp. of China, or Chalco, and partner Alcoa Inc. united in buying into Rio Tinto’s 9% stake in February, the two companies have not applied to the Australian regulators for an increasing holding, said a spokesman from the Australian government yesterday. Chalco was considering the increase in Rio’s stake and in talks with Alcoa about the plan, said Xiao Yaqing, president of Chalco. The spokesman said that the only application Australian government has received is the two companies’ application about buying Rio’s stake on February 4th. Chalco and Alcoa bought Rio’s 12% London-listed stake for $14.1 billion in February this year, representing 9% of Rio’s total stake.