Shares of Aluminum Corporation of China (Chalco) rallied during the latest trading session after investors responded positively to plans by its parent company to increase its shareholding, alongside improving aluminium market fundamentals. The company's Hong Kong-listed shares gained 6.28 per cent...
Shares of Aluminum Corporation of China (Chalco) rose on Monday after its controlling shareholder, Aluminum Corporation of China (Chinalco), announced plans to increase its stake in the state-owned aluminium producer by up to USD 300 million (CNY 2 billion), reflecting confidence in the company's...
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Jiaozuo Wanfang Aluminium Manufacturing Co. plans to pay 389.3 million yuan ($63.6 million) to buy a 20% interest in China Rare Metals and Rare Earth Co., part of Aluminum Corporation of China (CHINALCO). Jiaozuo Wanfang, which itself is a subsidiary of Aluminum Corporation of China Ltd. (Chalco),...
Aluminium Corporation of China (Chalco) listed a 60% interest in an alloy-making subsidiary on Shanghai United Assets and Equity Exchange (SUAEE) to transfer for 119.58 million yuan ($19.55 million). Chalco listed its stake in the Foshan, Guangdong province-based Chalco Nanhai Alloy Co. on the...
Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said a loss in the third quarter widened from a year earlier as prices dropped. Net loss was 1.22 billion yuan ($200 million) in the three months ended Sept. 30, compared with a loss of 1.08 billion yuan a year...
Chinese aluminium output is likely to hit a record 24 million tonnes this year, a research director at the country's top producer of the metal said on Wednesday, suggesting production may ramp up towards year-end. China's growth in aluminium output means it has had little need for imports from...
The Hong Kong listed aluminum giant Chalco said it is transferring its stake in an iron ore venture to its parent company Aluminum Corp of China Ltd., to improve its capital structure. Chalco Hong Kong Ltd plans to dispose 65 percent of an equity interest in Chalco Iron Ore Holding Ltd., to...
Aluminum Corporation of China Ltd (Chalco)’s Guizhou branch put its Maiba bauxite mine, which has a designed capacity of 500,000 tpy, into full operation this month. Maiba mine’s operation can be seen as ``milestone’’ for Chalco Guizhou to move from open-pit mining to underground mining, the...
Mongolia is switching things up and have recently “passed a law aimed at reviving foreign investment by easing restrictions on investors in key sectors such as mining and by providing greater certainty on the taxes they must pay,” reports Reuters. “The new regulations take effect on Nov 1 and...
At the meeting the Minister of Mining D.Gankhuyag expressed approval for the successful bilateral cooperation on economy between Mongolia and China and the efficient changes made into the coal agreement between Chalco and Erdenes Tavan Tolgoi LLC. The Minister of Mining also said that “Erdenes...
As our old friend Chuin-Wei Yap at the WSJ in Beijing recently observed, in spite of chronically low aluminum prices and massive global overcapacity of supply, China continues to invest in new smelters in its northwest region. In fact, as the article reports, Xinjiang Qiya Aluminum & Power Ltd.,...
Mining major Rio Tinto and Chinese owned Chalco have opted out of bidding for the $20 billion Aurukun bauxite deposit in Cape York, leaving Glencore and Australia Indigenous Resources in the race. The Queensland government released a shortlist of five bidders to pitch for the Aurukun deposit in...
China’s Aluminum Corp of China (Chalco) decided to scrap its plans (or at least suspend them) to open a $1 billion aluminum smelter in Malaysia, according to Reuters. Since China’s aluminum market operates in a sort of vacuum from the rest of the global aluminum sector, immediate effects on prices...
Aluminum Corp of China (Chalco) , the top producer of the metal in China, has suspended a smelter project in Malaysia worth more than $1 billion, a company spokesman said on Tuesday. "The project is stalled now," the spokesman told Reuters. Chalco signed a frame agreement with Malaysian company...
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. "There was no alleviation for the oversupply of...
Aluminium Corporation of China (Chalco) narrowed losses significantly in the first half thanks to its cost reduction efforts and gains realized from disposals of some business lines. The company recorded a total loss of 596 million yuan ($96.6 million) in the first six months, it told Hong Kong...
Aluminum Corp of China Ltd (Chalco) , the country's top aluminium producer, posted a first-half net loss of 623.8 million yuan ($101.9 million), hurt by lower prices and oversupply in the world's top producer and consumer of the metal. The result compared with a net loss of 3.25 billion yuan in the...
Chalco is likely to be the only aluminium company left standing, says emerging markets fund manager Mark Mobius, as the Chinese government orders more than 1,400 companies to ease back on over capacity. It is thought likely that such a move will mean that some aluminium companies will fall by the...
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. The mainland ordered more than 1,400 firms in 19 industries including aluminium to ease oversupply, according to a...
Chinese government called off a combined heat and power (CHP) generation project by Baotou Aluminium Co. before it obtained an environmental impact statement. Baotou Aluminium ``arbitrarily’’ started constructing a CHP project in Baotou city of Inner Mongolia from May, 2013 without obtaining an...
