JPMorgan holds 5% stake in mining major Rio Tinto for clients

JPMorgan Chase JPM holds a 5.36% stake in Australia's mining conglomerate Rio Tinto RIO for the bank's clients, an exchange filing to the local bourse showed on Thursday.

Last week, the Anglo-Australian mining giant completed its $6.7 billion acquisition of the U.S.-based Arcadium Lithium (LTM.AX), as it looks to diversify away from iron ore towards critical minerals and battery metals such as lithium.

Rio on Wednesday said it will raise $9 billion in U.S. investment-grade bonds as it seeks to fund the Arcadium buyout.