China’s expanding construction industry will fuel an increase in demand for copper and drive prices higher, according to Aluminum Corp of China (Chinalco) Chief Executive Officer Xiao Yaqing.
The plunge in copper from a record earlier this year is a “short-term” decline, Xiao said at a meeting of the Asia-Pacific Economic Cooperation in Lima, Peru yesterday.
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Chinalco Luoyang Copper Co., the biggest processor of the metal for parent Aluminum Corp. of China, said orders fell 20 percent last quarter as the economy grew at the slowest pace in five years.
The decline represented a drop in monthly production to 7,000 metric tons in the third quarter, from 9,000 to 9,500 tons in [...]
Aluminum Corp of China (Chinalco) said its stake in Australian miner Rio Tinto Plc held by Lehman Brother is safe, amid reports the collapse of the United States investment bank has put the stake at risk.
“The shares are held in a separate designated account pursuant to a custody arrangement with Lehman Brothers International (Europe),” Chinalco [...]
Russian miner Aricom PLC announced on Friday it has inked agreement with Aluminum Corp of China (Chinalco) to establish a titanium sponge venture in northeastern China.
The joint venture, located in Jiamusi City of Heilongjiang province, is planned to have an annual capacity of 15,000 tons of titanium sponge upon completion of the first stage, [...]
Aluminum Corp of China, or Chinalco, has got Australian approval to raise to 11 percent its stake in Rio Tinto Group, the target of a hostile $143 billion takeover by rival miner BHP Billiton Ltd.
“I have decided to raise no objections under Australia’s foreign investment policy,” Wayne Swan, federal treasurer of Australia, said yesterday in [...]
Australia has approved Aluminum Corp. of China Ltd.’s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Swan said he approved the Chinese state-owned company’s acquisition of up to 14.99 percent of the shares in Rio Tinto PLC, the London Stock Exchange-listed arm of Rio Tinto Group. The approval came after [...]
