MELBOURNE - Global miner Rio Tinto still believes that its planned $19.5 billion tie-up with Chinese state-owned investor Chinalco makes sense, Rio Tinto head of strategy Doug Ritchie said on Thursday.

Investors have been speculating Rio might have to revise the deal after its shares last week climbed above the $45 conversion price on the first of two tranches of convertible notes that would be issued to Chinalco under the deal, struck in February.

(Reporting by Sonali Paul and Simone Giuliani; Editing by Mark Bendeich)