Chinalco (Aluminum Corporation of China), Alcoa Inc - completed acquisition of interest in Rio Tinto plc

Summary

Chinalco and Alcoa, via a joint venture arrangement, have acquired 12% of the shares of Rio Tinto plc. Rio Tinto plc owns approximately 37.5% of the issued shares in Rio Tinto Limited, which is incorporated in Australia, and the two companies are managed on a unified basis. Rio Tinto, Chinalco and Alcoa each have significant mining interests globally, including in Australia.

Market definition

The ACCC did not consider it necessary to form a view in relation to market definition.

Competition analysis

The ACCC considered that, given the nature and extent of the interest acquired, the acquisition was unlikely to substantially lessen competition.