Rio Tinto will receive a 12.3-billion dollars investment in some of Rio Tinto's aluminum, copper and iron ore projects. In addition to this investment, Chinalco is buying 7.2 billion dollars of convertible bonds. Together, this will increase Chinalco's stake in Rio Tinto from 9 to 18 percent. Rio Tinto confirmed that it was in talks with Chinalco. "In this regard, Rio Tinto confirms that it has held discussions with Chinalco regarding Chinalco acquiring minority interests in various operating businesses of the Rio Tinto group and is also investing in convertible instruments," Rio Tinto said. "There can be no certainty that a transaction will ultimately take place and any possible transaction would be conditional upon approval by the shareholders of Rio Tinto and all necessary government and regulatory authorities."
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