Aluminum Corp. of China Ltd. (ACH), or Chalco, said Tuesday media reports that Chalco plans to raise its stake in Rio Tinto PLC (RTP) to 15% aren't true.

Chalco said it doesn't hold any stake in Rio Tinto.

Chalco's parent, Aluminum Corp. of China, or Chinalco, is Rio's biggest shareholder.

Rio said Monday it has held talks with Chinalco over the possible sale of minority stakes in some of its mining operations and an investment in convertible instruments.

-Wynne Wang contributed to this story, Dow Jones Newswires; 8621 6120-1200; wynne.wang@dowjones.com

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