This morning there were fresh rumours that Rio Tinto, the major coal and uranium miner, would seek a rights issue after all, which would sink the Chinalco deal and drown the share price.
This is unlikely to happen - unless triggered by a widespread shareholder revolt. The company picked a new chairman, Jan du Plessis, yesterday, and his first words were of unwavering support for Chinalco and the Chinese mining major’s offer to hand Rio nearly $20bn. But it is worth exploring some of the alternatives to Chinalco buzzing around the market.
