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  1. Business - Commodities

    Minmetals submits bid for Peru mine

    Posted Oct 04th 2013, 10:57am by Reuters

    ... company said last month that Chinese suitors might be allowed to compete against each other in the race for the mine, given strong interest. Chinalco Mining and Jiangxi Copper were among ... with Chinalco. Peru's Mines Minister Jorge Merino said on Thursday that firms from several countries had expressed interest. ...

  2. Chalco allocates 16b yuan to expand capacity, buy parent's assets

    Posted Mar 13th 2007, 12:00am by Carol Chan

    ... chairman Xiao Yaqing said. 'Assets injection from our parent Chinalco will speed up after we complete our A-share listing on the Shanghai Stock Exchange,' Mr Xiao said yesterday, a day ... and 13 million tonnes over the next three years, he said. Besides buying smelting plants from Chinalco, Mr Xiao said, Chalco would also acquire downstream aluminium processing plants from its ...

  3. Painful lessons on global expansion for Chinese firms

    Posted Jun 06th 2009, 12:00am by Martin Zhou

    ... Martin Zhou in Beijing The soured US$19.5 billion bid by Aluminum Corp of China (Chinalco) for a bigger slice of Rio Tinto provides some hard lessons for resources-hungry state-owned ... Rio Tinto's choice of a rights offer to raise US$15.2 billion as a funding alternative to the Chinalco deal underlined the winds of change, market observers said. Winson Fong, a fund ...

  4. Lai See

    Posted Feb 14th 2009, 12:00am by Ben Kwok

    ... Ben Kwok Chinalco's love for Rio written in stars, but will romance last? Can it just be coincidence that Chinalco's infatuation with Rio Tinto seems to coincide with Valentine's Day? It was around this time last year that Chinalco teamed up with fellow aluminium giant Alcoa to buy a 9 per cent stake in the world's third-largest miner for US$14 billion. ...

  5. Beijing plans to establish copper giant to consolidate industry

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

    ... Carol Chan Beijing plans to establish a near-monopoly copper giant, like Aluminum Corp of China (Chinalco) in the aluminium industry, in an attempt to consolidate the fragmented industry ... Chinalco, the controlling shareholder of Yunnan Copper Group, may become a major consolidator, the newspaper said. State-owned Chinalco controls more than half the mainland's alumina market ...

  6. Declining earnings trigger pay cuts at state-owned companies

    Posted Jan 28th 2009, 12:00am by Staff Reporter

    ... and expense accounts and issued a moratorium on stock options for executives. Already, key state-owned industrial companies such as Aluminum Corp of China (Chinalco) are implementing pay cuts as earnings collapse in the face of falling prices and a broad industrial slowdown. New details about pay cuts at Chinalco, the mainland's biggest producer of alumina and aluminium, emerged ...

  7. Chalco to bid for parent's five aluminium fabrication plants

    Posted Mar 25th 2008, 12:00am by Carol Chan

    ... to take over from its state-owned parent, Chinalco, five aluminium fabrication plants with annual capacity of 1.09 million tonnes and an aluminium smelter with an annual capacity of 232,000 tonnes ... of Chalco's long-term vision of becoming a more integrated, global and diversified aluminium play. On completion of the acquisition, Chalco would have bought most of Chinalco's aluminium ...

  8. Steelmakers weigh staff, pay and output cuts

    Posted Nov 22nd 2008, 12:00am by Carol Chan

    ... in response to a report that its state-owned parent Chinalco had laid off more than 5,000 temporary staff amid weak market conditions. 'All of them are temporary workers and do not have any employment contracts with Chinalco. You cannot say it is a layoff,' Ms Liu said, adding that Chalco did not have temporary workers or any plans to axe staff. Xinhua Finance News reported ...

  9. Yunnan Copper to sell bonds

    Posted Oct 13th 2007, 12:00am by Carol Chan

    ... parent, Yunnan Copper Group, earlier reaffirmed that its plan to inject its copper mine assets into the listed arm was unchanged by the sale of a strategic stake to Chinalco. Chinalco, the parent ... The stake sale to Chinalco would bring capital, copper resources and technology the firm needed for its copper-processing business, Mr Zou said. Yunnan Copper Group, which owns 7.5 million tonnes ...

  10. Beijing goes slow on Valin's Fortescue stake

    Posted Apr 16th 2009, 12:00am by Staff Reporter

    ... larger US$19.5 billion Rio Tinto-Aluminum Corp of China (Chinalco) deal, sources said. 'Everyone is saying that is not the case but that is exactly what is happening,' one source said. ... Both sources said the deal would go through as China needs resources. Limitations such as a shareholding cap and conflict of interest declarations are to be put in place with Chinalco as well, ...




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