Aluminum Corp. of China, or Chinalco, is talking with Rio Tinto PLC (RTP) on a possible purchase of assets, a senior company executive said Tuesday.

The official said "money shouldn't be a problem," when asked how Chinalco will finance the potential deal.

The executive, who declined to be named, said Chinalco will appoint Xiong Weiping as chairman to replace Xiao Yaqing.

Chinalco is the parent of Aluminum Corp. of China Ltd. (ACH), or Chalco.

Chalco's shares were suspended from trading in Hong Kong and Shanghai Tuesday.

-Juan Chen contributed to this story; Dow Jones Newswires; 8610 6588 5848; juan.chen@dowjones.com