Aluminum Corp. of China, or Chinalco, is in "intense" talks with Rio Tinto PLC (RTP) about taking a seat on Rio's board of directors and closing a possible deal, Chinalco Deputy General Manager Lu Youqing said Tuesday.

Lu said both sides are still discussing the size of a possible deal and the financing involved.

He declined to disclose details, or confirm whether Chinalco is seeking a 15%-20% stake in Rio.

He said an announcement would only be made if a deal is reached, and declined to say whether any would be forthcoming Thursday.

Rio reports full-year results Thursday, and analysts said the miner could be trying to seal a deal by then.

-By Chuin-Wei Yap, Dow Jones Newswires; 8610 6588 5848; chuin-wei.yap@dowjones.com