Aluminum Corp. of China Vice President Lu Youqing told Dow Jones Newswires on Monday that he isn't aware of any talks with Anglo American PLC (AAUK) on the Chinese metals giant investing in Anglo's iron-ore business in Brazil.

London's Sunday Telegraph reported Anglo was poised to open talks with the Chinese company, known as Chinalco, and at least one Middle Eastern investor about a partnership that could see hundreds of millions of dollars injected into MMX, Anglo's Brazilian iron-ore business.

Lu told Dow Jones Newswires last week that Chinalco wasn't interested in iron-ore ventures for the time being, preferring to focus on base metals projects.

On Monday, Lu also declined comment on a report in the Daily Telegraph on Saturday that cited unnamed sources as saying Chinalco had decided to take up its rights in Rio Tinto PLC's (RTP) US$15.2 billion rights issue.

"We can't comment on that right now, because that would affect share prices," he said. "When the issue is completed, then we can say something."

Chinalco holds an existing 9.3% stake in the Rio Tinto group, making the Chinese firm Rio's largest shareholder.

Rio Tinto walked away from a planned US$19.5 billion alliance with Chinalco earlier this month, turning instead to a giant equity raising to ease its debt burden.

Investors who hold Rio Tinto stock in Australia and the U.K. have until July 1 to subscribe to 21 shares for every 40 shares they hold at a price of GBP14 a share in the U.K. and A$28.29 a share in Australia.

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