Ceramic Industry News

Alcoa Partners with Chinalco to Acquire 12% Stake in Rio Tinto (posted 2/1/08)

Alcoa Inc. is partnering with Aluminum Corporation of China (Chinalco) to acquire 12% of the UK common stock of Rio Tinto plc.

Alcoa Inc. recently announced that it is partnering with Aluminum Corporation of China (Chinalco) to acquire 12% of the UK common stock of Rio Tinto plc. Alcoa will contribute up to $1.2 billion to the total investment. “We have long believed that Rio Tinto has a world-class portfolio of assets and is very well positioned to prosper in the current mining cycle,” said Alain Belda, Alcoa chairman and chief executive officer. “This investment, made in partnership with Chinalco, allows us to mutually benefit from developments in the sector. We have known Chinalco for many years, dating back to our participation in the successful launch of Chalco’s IPO, and are looking forward to this new venture.”

The investment will be made through a Special Purpose Vehicle, called Shining Prospect Pte. Ltd. (SPPL), created for this purpose. SPPL is based in Singapore and wholly owned by Chinalco. Through its investment, Alcoa will acquire an equity stake in SPPL commensurate with its cash contribution to the investment.

In response to Alcoa’s announcement, Rio Tinto Chairman Paul Skinner said in a statement, “This unsolicited development, of which we had no prior notice, reinforces our view of the long-term value of Rio Tinto. In line with our long-standing strategy, we shall continue to focus on operating our many world-class assets to maximize value and prospects for all shareholders.”

For additional information, visit www.alcoa.com. Rio Tinto’s website is located at www.riotinto.com.


Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

2015 Ceramics Expo

Snapshots from the 2015 Ceramics Expo, April 28-30, Cleveland, Ohio. Posted: May 14, 2015.


Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

CI May 2015 cover

2015 May

Our May issue covers bulk batching, pneumatic conveyors, high-temperature furnaces and more! Be sure to check it out today.

Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
View Results Poll Archive


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!