Chinalco deal gets initial nod

Aluminum Corp of China (Chinalco) yesterday got an initial go-ahead from the Australian government for its $19.5-billion investment into the Rio Tinto Group.

The Australian Competition and Consumer Commission said in a statement on its website that it does not oppose the proposed acquisition by Chinalco in Rio Tinto.

"It would be unlikely to result in a substantial lessening of competition," it said.