Select Language:Aluminum producer Chalco announced its plan to partner with Rio Tinto Group to acquire a controlling stake in a major Brazilian aluminum company, for BRL4.7 billion (roughly USD903 million). ADVERTISEMENTThe deal involves Chalco and Rio Tinto, headquartered in London, purchasing a 68.6 percent ownership in the Brazilian firm. Chalco owns 67 percent of the joint venture, while Rio Tinto owns 63 percent. This renewable energy focus positions the company as a leader globally in measuring carbon emissions per ton of aluminum, according to Chalco. The acquisition is expected to expand Chalco’s aluminum capacity and facilitate the development of a new industrial hub in Brazil.