Chinalco, Anglo may join forces - 0 views
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Colin Bennett on 06 Jul 09CHINALCO's interest in resources acquisitions and Anglo American's early moves into China back up the speculation that the two companies could engage in some form of partnership. Chinalco is the Chinese state-owned resources group tipped as a potential suitor to rescue Anglo American from the unwelcome advances of Xstrata, or as a co-investor in Anglo's MMX Minas- Rio iron-ore project in Brazil. Chinalco and Anglo American have declined to comment on the speculation that, after Anglo's board rejected Xstrata's all-share merger proposal last month, Anglo has been seeking a white knight in either Chinalco or Brazilian iron-ore giant Vale. Vale, though, has said publicly that it is not seeking acquisitions at present.