Rio Tinto and Aluminum Corporation of China to acquire a 68.6% stake in Companhia Brasileira de Alumínio from Votorantim $903m.

Rio Tinto, a global mining group, and Aluminum Corporation of China, a multinational corporation, agreed to acquire a 68.6% stake in Companhia Brasileira de Alumínio, an aluminium producer, from Votorantim, an investment holding company, for $903m. “This acquisition, jointly with Chalco, of Votorantim’s controlling position in CBA’s fully integrated aluminium supply chain in Brazil is aligned with our strategy to deliver value for shareholders by extending our low-carbon, renewable-powered aluminium footprint in rapidly growing markets. It also provides the opportunity to grow our bauxite and alumina supply chain in the Atlantic region," Jérôme Pécresse Rio Tinto Aluminium & Lithium Chief Executive.