Rio Tinto, Chinese Partner May Make Bid For Potash

Mining giant Rio Tinto

may team with a Chinese partner, possibly Sinochem, to launch a competing bid for Potash Corp. of Saskatchewan

. The largest North American maker of potash fertilizer rejected a $39 billion hostile offer from BHP Billiton

, the world's largest mining company. Rio Tinto has been mentioned as one of the few firms that could launch a rival offer to BHP's bid for Potash. Canada's Globe and Mail newspaper reported that Sincohem, China's largest chemicals trader, or Cnooc

, China's largest offshore oil driller, could be among the companies Rio could team with. "Rio Tinto is said to be considering a bid alongside a Chinese player," the paper reported.