Chalco (China Aluminium Corporation) and the Rio Tinto Group will jointly acquire a majority stake in CBA (Companhia Brasileira de Alumínio), part of the Votorantim Group, for R$4.7 billion, ensuring low-carbon production amid rising metal prices. 

The acquisition will be made through a joint venture, with Chalco holding 67% and Rio Tinto 33%. The deal strengthens the strategic ties between Chinese state-owned Chalco and the global mining giant as both expand in Latin America.

Under the agreement, which will be paid entirely in cash, the joint venture will pay R$10.5 per share for a 68.6% stake in CBA, a premium of 21.2% over the target company's share price over the last 20 trading days. Upon completion of the deal, CBA will become a subsidiary of Chalco.

The transaction coincides with a sharp rise in aluminium prices. Three-month aluminium futures contracts on the LME (London Metal Exchange) rose more than 45%, from US$ 2,300 per tonne in April 2025 to a record US$ 3,356 per tonne on 29 January 2026.

(Source: Poder 360, on 2 February)