BHP Billiton, the world's largest miner, rose to a record on Friday after a report that Chinese interests would like to make a joint bid with another investor to buy 9 percent of the mining company.
The Australian newspaper said Chinese interests would take half the stake and the rest would be taken by a private-equity group to reduce fears that China was attempting to takeover Australian resource companies. The Chinese entities or the fund were not identified by the paper.
Earlier in the week, BHP rose to a record after talk that Chinalco, the Chinese aluminum company, was buying BHP shares.
Shares of BHP Billiton rose 3.06 percent, or A$1.47 to A$49.45 in afternoon trading on the Australian Stock Exchange
China is consuming minerals at a similar pace as construction booms across the country.