Chalco vice-chairman Sun Zhaoxue resigns amid graft probe

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.

"[He] was suspected of serious violations of laws and disciplines, and was under investigation by the competent authority [yesterday]," Hong Kong and Shanghai-listed Chalco said in a filing to the Hong Kong stock exchange.

"[Sun] confirmed he has no disagreement with the board and there is no matter in relation to his resignation which needs to be brought to the attention of the shareholders of the company."

Sun was president of Chalco's parent company, Chinalco. There was no announcement on the Chinalco website whether he had resigned from the position, but his name is no longer listed in the board of directors section of the website. Calls to its spokesman's office were not answered.

The Communist Party's Central Commission for Discipline Inspection said yesterday that Sun was under investigation for suspected "serious violation of laws and party discipline", usually a euphemism for corruption, without giving further details.

Sun, 52, a native of Shanxi, had worked in various aluminium units under Chinalco for 22 years until late 2005, when he became chairman of a copper unit of the company. He was appointed president and party secretary of state-owned China National Gold Group Corp, the country's top gold miner, in 2006 and also headed the firm's Hong Kong and Canada-listed unit, China Gold International Resources Corp.