Chinalco mulls stake in mine venture .

Chinalco is considering purchasing a direct minority stake in the Oyu Tolgoi project.

CHINALCO is considering purchasing a direct minority stake in one of the world's largest undeveloped gold-and-copper mine deposits.
Canada's Ivanhoe Mines owns a 66 per cent stake in the Mongolian Oyu Tolgoi project and has previously expressed interest in selling a minority stake to a second strategic investor.
Rio Tinto owns an indirect interest in the project through its 29.6 per cent equity stake in Ivanhoe Mines.
Chinalco, also known as Aluminium Corp of China, "has indicated an interest" in acquiring a minority equity stake in Ivanhoe or a minority interest in the Oyu Tolgoi project, Rio Tinto said in a US Securities and Exchange regulatory filing.
Rio Tinto, the project operator, is also discussing plans with Ivanhoe to convert its indirect equity stake in the project "into a direct ownership interest," mining giant added.
"If any arrangement is agreed, it may be a bipartite or tripartite arrangement with" Ivanhoe and/or Rio Tinto, the dual-listed Rio Tinto said.
Rio Tinto paid $US393 million ($455m) on June 29 to exercise warrants that increased the Anglo-Australian's stake in Ivanhoe to 29.6 per cent from 22.4 per cent.
Rio Tinto still has enough warrants to increase its stake up to 44 per cent.
Rio Tinto has also had discussions about the project with numerous parties including European Bank for Reconstruction and Development and The International Finance Corporation.
Rio Tinto intends to continue its discussions with Ivanhoe, Chinalco, the EBRD, the IFC and other third parties, including the government of Mongolia, which owns the remaining 34 per cent of the project, filing said.
An Ivanhoe spokesman declined to comment on the filing but referred to a May 21 statement that said that talks continued on financing.