Chinalco said it will continue to pay attention to Rio Tinto's progress and is optimistic about the long-term prospects of the industry.

Reuters Sydney, July 2nd - China National Aluminium Company (ALUMI.UL) issued a statement on Thursday as a larger unit of Rio (RIO.LX) (RIO.AX: Quotes) Shareholders will continue to monitor their progress.

Aluminum Corporation of China stated that “this is an economically reasonable decision because it can prevent my company from holding dilution of Rio Tinto’s equity. Chinalco believes in the long-term prospects of the industry and will continue to look for opportunities to advance its strategic goals.”