• Mon
  • Dec 29, 2014
  • Updated: 2:53pm

Chalco

 

Aluminum Corporation of China Ltd (Chalco) is China’s largest alumina and primary aluminum producer and the world’s second largest alumina producer.

 

Chalco vice-chairman Sun Zhaoxue resigns amid graft probe

Chalco vice-chairman Sun Zhaoxue is suspected of "serious violations" of the law, according to a CCDI notice.

Aluminum Corp of China (Chalco), the country's largest smelter of the lightweight industrial metal, said its non-executive director and vice-chairman, Sun Zhaoxue, has resigned after the mainland's anti-graft watchdog said he has been detained to assist its investigation.

Wednesday, 17 September, 2014, 5:39am

Chalco shares take a beating on poor results

Chalco's operating loss from aluminium smelting widened to 2.49 billion yuan from 986 million yuan a year earlier. Photo: Bloomberg

Shares of Aluminum Corp of China, the country’s largest producer of the metal, fell 4.1 per cent to HK$3.31 on Friday morning after it posted a worse-than-expected 4.12 billion yuan net loss for the first half of the year.

29 Aug 2014 - 12:48pm

Chalco warns of change in competitive landscape after return to the black

Chalco said it aimed to turn around its loss-making units this year. Photo: Bloomberg

Aluminum Corp of China (Chalco) posted a net profit of 975.2 million yuan (HK$1.2 billion) for last year, reversing an 8.2 billion yuan loss the previous year, mainly due to asset disposals.

The firm also cautioned that smelters in the central and eastern regions of the mainland might be squeezed out of the market by more competitive plants in western areas.

19 Mar 2014 - 1:25am

Probe of Chalco executive signals more reckoning for China's SOEs

A Chalco smelting facility in Zibo , Shandong province. The firm is the country's largest aluminium smelter. Photo: Bloomberg

A series of investigations involving executives of major state-owned enterprises underscores Beijing's seriousness in cracking down on corruption and tackling vested interests.

27 Nov 2013 - 3:17am 1 comment

Chalco executive latest to face Beijing investigations

Chalco said its vice-president Li Dongguang was under investigation "by relevant authorities for personal reasons". Photo: Bloomberg

A senior manager of Aluminum Corp of China (Chalco), the country's largest smelter of the lightweight metal, has become the latest in a series of high-level executives at central government-administered enterprises to be investigated by Beijing.

20 Nov 2013 - 4:38pm

Aluminium faces tough future, warns Chalco

Chalco warned of more tough times for the aluminium industry.

Aluminium Corp of China (Chalco), the nation's largest smelter of the lightweight industrial metal, warned of more tough times for the industry as it said its interim net loss narrowed, largely on the back of one-off gains and government subsidies.

31 Aug 2013 - 3:21am

Chalco to benefit from aluminium capacity cut

Investor says Chalco is a "good long-term bet" as it's backed by government's plan to reduce overcapacity of aluminium. Photo: Bloomberg

Investor Mark Mobius said Aluminum Corp of China is a "good long-term bet" as one of the few producers of the metal set to benefit from the government's plans to reduce overcapacity.

31 Jul 2013 - 4:43am

China’s Chalco to close 380,000 tonnes of aluminium capacity

> The Aluminum Corp of China said in a statement it would temporarily close 380,000 tonnes of annual capacity due to market conditions. Photo: Reuters

Chalco, China’s top producer of aluminium, joined other companies on Wednesday in cutting capacity to help trim a market surplus after it suffered losses due to weak prices.

The Aluminum Corp of China said in a statement it would temporarily close 380,000 tonnes of annual capacity due to market conditions.

29 Aug 2013 - 4:13am

Sundance to conclude iron ore partnership talks by June

Australia’s Sundance Resources will conclude discussions with potential partners on its US$4.7 billion (HK$36.5 billion) Africa iron ore project by June and announce a chosen partner three months later, the firm’s chief operations officer told Reuters.

31 May 2013 - 12:48pm

Falling aluminium prices send Chalco into the red

Aluminium prices dropped 6 per cent last year. Photo: Bloomberg

Aluminum Corporation of China (Chalco) posted its worst results since going public in 2001, chalking up a net loss of 8.23 billion yuan (HK$10.18 billion) for last year.

28 Mar 2013 - 6:31am

HSI adds Lenovo, dumps Chalco

Lenovo will gain blue-chip status from March 4.

Hong Kong's benchmark Hang Seng Index will no longer include the loss-making state-owned enterprise Aluminum Corp of China, also known as Chalco, but will add computer manufacturer Lenovo, Hang Seng Indexes said in a quarterly review yesterday.

7 Feb 2013 - 5:16am

Chalco expects to post loss of 4.8b yuan for last year

The headquarters of Aluminum Corp of China (Chalco) in Beijing. Photo: Bloomberg

While the pickup in the mainland's economy would see higher demand and product prices this year, analysts expect the firm to remain in the red, although the loss would be narrower.

30 Jan 2013 - 4:40am

Chalco to build Indonesian alumina plant

Aluminium Corp. of China Ltd., the country’s biggest producer, is seeking to tap bauxite resources and build processing plants abroad after Indonesia, the largest supplier to China, curbed exports.

4 Dec 2012 - 12:33pm

Mongolia’s white-hot growth slows on China woes

Cranes dot the skyline in Ulan Bator, where double-digit economic growth has helped the resource-rich country weather the global financial crisis. Photo: SCMP

Mongolia’s white-hot economic growth has cooled this year as the ripple effects of the global economic downturn -- and especially slowing Chinese growth -- start to hit home.

10 Oct 2012 - 12:31pm

Market Open:Hong Kong stocks seen higher on easing hopes after disappointing China PMI

Hong Kong stocks may open higher after a two-day National Holiday break on speculation that more easing measures could be in the pipeline to revive growth 

3 Oct 2012 - 9:57am

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