Chinalco has signalled it is not entirely opposed to making concessions in a $19.5bn deal agreed with Rio Tinto, the Anglo-Australian mining group whose shareholder base remains divided over controversial terms of the fundraising.
A person familiar with the thinking of the state-owned Chinese mining company says Chinalco could be amenable to a convertible bond being extended to UK investors, if Rio's board decides this revision is necessary.
Under the agreed terms of the deal Chinalco has exclusive rights to buy convertible bonds in Rio worth $7.2bn. Once converted the bonds would double Chinalco's stake to 18 per cent - at the expense, many institutional shareholders protest, of their own holdings, which would be diluted.
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