www.bloomberg.com
Here is a 100-word summary:
Aluminum Corp. of China (Chalco), a major shareholder in Rio Tinto, is likely to support the mining giant’s potential acquisition of Glencore. A merger between Rio Tinto and Glencore would create a dominant global mining force, with Chalco benefiting significantly from increased exposure to copper—currently the industry’s most sought-after metal. As China is the world’s largest copper consumer, the deal aligns with Chalco’s strategic interests and Beijing’s resource security goals. While Rio Tinto has not formally confirmed a bid, this alliance suggests strong geopolitical and financial backing for a transaction that would reshape the global commodities landscape.
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