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Report: Rio Tinto considering bid for Potash Corp.'s SQM stakes

Rio Tinto is considering bidding for stakes in Chile's Sociedad Quimica y Minera de Chile SA or SQM as Potash Corp. of Saskatchewan Inc. will be forced to divest its 32% SQM shareholding as part of its merger with Agrium Inc., Reuters wrote Nov. 21, citing banking sources.

According to the sources, Canada's Wealth Minerals and Chinese private equity firm GSR Capital are also mulling over offers for the SQM stakes.

Rio Tinto declined to comment on the matter, but Business News Americas earlier reported that the mining giant is said to be working with Credit Suisse and Rothschild for a bid. Potash Corp. also refused to comment on the transaction.