Nomura and Blackstone could miss out on over $30m (€21.2m) in advisory fees after mining giant Rio Tinto backed out of its $19.5bn deal with Chinalco yesterday and instead announced plans to launch a $15.2bn rights issue, which could provide close to $400m in fees for Rio Tinto’s underwriters.

The Japanese bank and US priivate equity firm, along with China International Capital Corporation and JP Morgan, are advisers to Chinalco, which confirmed it was withdrawing its offer to invest in Rio Tinto after an economic recovery left the terms of Chinalco's investment looking unfavourable to Rio Tinto's shareholders.