Rio Tinto PLC's (RTP) chief financial officer said Thursday the company's $19.5 billion deal with Aluminum Corp. of China Ltd. (ACH) allows it to hold off on the sales of assets not already on a short-list for disposal.

"I think the Chinalco transaction gives us the flexibility to be much more demanding and not to sell other businesses," Guy Elliott told analysts during a presentation.

Rio Tinto Thursday announced a $19.5 billion deal with Chinalco that will give the Chinese group minority stakes in a suite of assets and convertible bonds that could ultimately deliver an 18% stake in the miner.

The deal, if approved by shareholders and regulators, would ease Rio's $38.7 billion debt burden.

Rio had been hoping to sell off non-core assets to meet its debt obligations.

Seven businesses, including U.S. coal, aluminum packaging and industrial minerals, have been on the market since 2007 and remain for sale.

The Anglo-Australian miner said in December it would expand that list as it scrambled to pay off $10 billion of its debt this year. And earlier this year it announced the disposal of a potash project in Argentina and iron ore operations in Brazil for a total of $1.6 billion.

"We had very active discussions with all the major players in the sector. We've been two months into that expanded list and I think we have a good flavor for the interest," Chief Executive Tom Albanese said.

Company Web site: www.riotinto.com

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com