Aluminium Corp China May Lift Stake In Rio Tinto To 14.99%

LONDON -(Dow Jones)- Aluminium Corp of China said Tuesday Chinalco may plan to lift its stake in Rio Tinto to 14.99%. The company said: "We note the statement published by Reuters today quoting Chinalco Vice President Spokesman Lu Youqing as saying that Chinalco 'Company leaders are considering 49.99%' of the share capital of Rio Tinto. "In fact, Chinalco Vice President Spokesman Lu Youqing actually said that Chinalco may plan 'to lift its stake in Rio Tinto to 14.99%'. "This would be in accordance with the approval previously given by the Foreign Investment Review Board in Australia to allow Chinalco to increase its stake in Rio Tinto to 14.99%. "Chinalco has not made any decision in respect of its investment options in Rio Tinto, including the possibility of increasing its holding above 15%." Chinalco also noted the announcement made Tuesday by BHP Billiton regarding its offer for Rio Tinto. Chinalco continues to have confidence in the fundamental value of the Rio Tinto Group and the management's strong ability to realise that value for all shareholders.