What was potentially the largest M&A deal of the year for LatAm – Chinalco’s acquisition of Rio Tinto assets including part of Chile’s Escondida copper mine – fell apart in June, taking 10% of volume with it. As part of the deal, Rio Tinto would have sold to Chinalco a 15% interest in the Escondida copper mine for $3.4 billion and a 30% stake in the La Granja copper mine in Peru for $50 million.