Chinalco says bull view on metals spurred Rio stake
LONDON, Feb 1 (Reuters) - A bullish view of the metals cycle was a driving factor behind Aluminum Corp of China's (Chinalco) move to team up with U.S. Alcoa (AA.N: Quote, Profile, Research) to buy a stake in mining group Rio Tinto (RIO.L: Quote, Profile, Research), the head of Chinalco said on Friday.
"We made this investment primarily because of... our strong belief in the sustained strength of the commodity cycle," Chinalco President Xiao Yaqing told a news conference in London.
"We have a very bullish view on the long-term prospects of the global mining sector," he added.
(Reporting by Eric Onstad; editing by Michael Roddy)
© Thomson Reuters 2008 All rights reserved















