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(AA) - Get Alcoa Corporation Report

isn't actively seeking to raise its stake in miner

Rio Tinto

( RTP) despite plans by its ally, Chinalco, to increase its holding,



Alcoa and state-owned

Aluminum Corp. of China

(ACH) - Get Aluminum Corporation of China Limited American Depositary Shares Report

, or Chinalco, together in February bought 12% of Rio's London shares, or 9% of Rio's total share registry, for about $14 billion in a move that followed a hostile takeover bid for Rio from rival

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BHP Billiton

(BHP) - Get BHP Group Limited American Depositary Shares (Each representing two) Report

, according to



"We're not actively seeking to increase our stake right now," Alcoa Australia Managing Director Alan Cransberg told


after a speech in Melbourne.

Chinalco this week said it plans to lift its stake in Rio to at least 14.99% after BHP abandoned a $68 billion bid to buy Rio Tinto on Tuesday.

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This article was written by a staff member of