Rumors that China's state-owned aluminum giant Chinalco planned to buy a chunk of BHP Billiton sent the mining company's shares up more than 4% in Australia. In February, Chinalco teamed with U.S.-based Alcoa to take a 9% stake in rival miner Rio Tinto. The deal was seen as Beijing's effort to block BHP Billiton's $168 billion takeover of Rio Tinto.

Related Summaries