If the Chinese give their approval to the deal, Rio Tinto hopes to announce the capital-raising with its results on February 12th. Rio is also planning to sell part of its stake in Escondida, the world's biggest copper mine, in Chile. Experts said Rio Tinto's stake in the mine could be worth as much as $6bn (£4.1bn). Rio Tinto has been in talks to sell its packaging arm, which is estimated by analysts to be worth more than $3bn (£2.1bn), for several months. Amcor, the American packaging giant, is understood to have engaged UBS, the investment bank, to advise it on a bid.