Dowjones Business reported that Rio Tinto PLC is not involved in discussions with any other company in an effort to counter BHP Billiton takeover proposal.

Mr Tom Albanese CEO of Rio Tinto PLC during a conference call told reporters that "We have not been engaged in discussions with anyone at this stage."

An earlier report quoted unnamed sources as saying that China Investment Corp, a sovereign wealth fund is considering to unite with Chinese steelmakers to offer about USD 200 billion for Rio Tinto to counter a takeover bid from BHP Billiton.