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  1. State firm likely to retain stake in miner

    Posted Jun 06th 2009, 12:00am by Carol Chan, Kandy Wong

    ... Kandy Wong and Carol Chan Chinalco is expected to hold on to its Rio Tinto shares and participate in an upcoming rights issue despite the collapse of a tie-up, because the state-owned firm wants to remain the largest shareholder of the Australian mining giant. 'It is worth it [for Chinalco] to hold its Rio Tinto stake, because it is a valuable long-term strategic ...

  2. Old hand named to take helm at Chinalco

    Posted Feb 20th 2009, 12:00am by Kandy Wong

    ... Kandy Wong The country's biggest metal producer, Aluminum Corp of China (Chinalco), has officially announced the appointment of Xiong Weiping to replace Xiao Yaqing as chairman. Seen by industry insiders as a prudent manager, Mr Xiong, a former Chinalco executive, is vice-chairman and general manager of China Travel International Investment Hong Kong. He was appointed to the board ...

  3. Chinalco president stepping down to join State Council

    Posted Feb 10th 2009, 12:00am by Carol Chan

    ... Carol Chan Aluminum Corp of China (Chinalco) president Xiao Yaqing, who oversaw the country's largest overseas acquisition, will step down and be promoted to the State Council, sources said. Xiong Weiping, a former Chinalco executive and a vice-chairman and general manager of China Travel International Investment Hong Kong, will replace Mr Xiao. The appointment of Mr ...

  4. Chinalco in talks to buy assets from Rio Tinto

    Posted Feb 03rd 2009, 12:00am by Carol Chan

    ... Carol Chan State-owned Aluminum Corp of China (Chinalco) is in talks to buy assets from Rio Tinto and increase its stake in the world's third-biggest mining giant in a deal worth up to US$15 billion. Chinalco is willing to put more money into Rio Tinto despite its investment last year in the foreign mining company having so far lost about 75 per cent amid a plunge in commodity ...

  5. Chinalco takes up full count of Rio Tinto rights

    Posted Jul 03rd 2009, 12:00am by Carol Chan

    ... Carol Chan Aluminum Corp of China (Chinalco) confirmed yesterday it had taken up its full entitlement in Rio Tinto's US$15.2 billion rights offer and said it would continue to monitor ... rational decision, as it prevented the dilution of our ownership in Rio,' a Chinalco spokesman said. The two companies' relationship soured last month after Rio walked away from a US$19.5 ...

  6. Chinalco keeps vision of mining global resources

    Posted Jun 06th 2009, 12:00am by Carol Chan

    ... Carol Chan State-owned Aluminum Corp of China (Chinalco) will keep its dream of developing into a leading global diversified resources company alive despite the failure of its US$19.5 billion tie-up with Rio Tinto. Rio yesterday scrapped the deal with Chinalco, its largest shareholder, choosing instead to raise US$15.2 billion in a rights issue and set up a joint venture ...

  7. Artful Chinalco still faces big problems in Rio deal

    Posted Mar 05th 2009, 12:00am by Tom Holland

    ... with Tom Holland Everyone agrees that Aluminum Corp of China's (Chinalco) proposed acquisition of an 18 per cent stake in Anglo-Australian mining giant Rio Tinto Group has been more ... and American jobs. The obstacles facing Chinalco are far less formidable. For one thing, Chinese state enterprises are hardly strangers in Australia. Beijing-controlled companies have been the biggest ...

  8. Chinalco on radar as Rusal investor

    Posted Oct 09th 2009, 12:00am by Eric Ng, Howard Winn

    ... Eric Ng and Howard Winn Aluminum Corp of China (Chinalco), the mainland's largest aluminium producer, has emerged as a potential investor in debt-laden Russian rival Rusal, which has ... its US$16.8 billion debt burden. According to Russian business newspaper Vedomosti, Chinalco was a possible investor in Rusal. Spokesmen for Rusal, its listing sponsors Credit Suisse and BNP ...

  9. Chinalco stake deal with Rio faces collapse

    Posted Jun 05th 2009, 12:00am by Carol Chan, Denise Tsang

    ... Denise Tsang, Carol Chan and Maria Chan The biggest overseas deal in Chinese history, the US$19.5 billion tie-up between Aluminum Corp of China (Chinalco) and Rio Tinto, looked ... at GBP27.20 (HK$345.70). It dropped 6.56 per cent to A$66.90 (HK$418.29) in Sydney earlier. Chinalco Overseas Holdings president Wang Wenfu declined to comment late last night, but indicated ...

  10. In the end, Chinalco's deal with Rio Tinto foundered on pricing

    Posted Jun 06th 2009, 12:00am by Naomi Rovnick

    ... Naomi Rovnick The political backlash to Chinalco's audacious tilt at Australian diversified miner Rio Tinto got the most headlines. But as with any major deal, the biggest reason for Beijing's failure to get its hands on Rio's treasure trove of mining assets was the price. Before being jilted at the altar, Chinalco wanted an 18 per cent stake in Rio, two seats on its ...




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