Source: CCTV.com

02-02-2008 11:35

The Aluminum Corporation of China, or Chinalco, and the US aluminum producer Alcoa have bought a 12 percent stake in UK-listed iron ore giant Rio Tinto.

The Aluminum Corporation of China, or Chinalco, and the US aluminum producer Alcoa have bought a 12 percent stake in UK-listed iron ore giant Rio Tinto. (Photo: xinhuanet.com)
The Aluminum Corporation of China, or Chinalco, and the US 
aluminum producer Alcoa have bought a 12 percent stake in 
UK-listed iron ore giant Rio Tinto. (Photo: xinhuanet.com)

The total price of Friday's acquisition stood at 14 billion US dollars, the largest overseas investment ever made by a Chinese enterprise. A large portion of the total investment came from the Chinese side, with Alcoa putting in just 1.2 billion US dollars.

The country's top non-ferrous metals producer said the deal was a strategic investment by the company. And it saw good prospects for the fast-growing mining industry and the value of Rio Tinto.

 

Editor:Xiong Qu