Aluminum Corporation of China: alumina market still has development space

(China Aluminum Network) Xiong Weiping, GM of Aluminum Corporation of China (ACH), said on 2011 Boao Asia Forum held on April 16th that alumina market still has development space in long term, but a day ago, the board meeting of ACH£¨601600£©confirmed alumina A share issuance motion.

As for overcapacity of alumina, Xiong Weiping thought that in fact China owned overcapacity of electrolytic aluminum. Presently alumina still has a certain imports and development space. Also alumina project develops relying on resources. Seen from long-term period, alumina market still has competitiveness.

As per the motion, Chinalco will not issue more than one billion shares of A share, raised capital wont exceed RMB 9.0 billion, which will be used for alumina project in Xing County, expansion project of Zhongzhou Branch Bayer dressing system and adding for circulating capital.

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