Rio Tinto is prepared to consider approaches from China after it was reported that the country’s largest steelmaker was planning an offer that could value Rio at more than $200b. Chief executive Tom Albanese said recently that the company is “listening, but not engaged” in talks with the Chinese government and steelmakers, who are the largest customers for Rio’s Australian iron ore mines. However, the company is understood to have softened its position and is now prepared to talk if a formal offer at a large enough price is forthcoming. Get more details about the discussions in the AmCham-China Wire.