China's Chalco Confirms Interest in Chinalco Aluminum Assets

BEIJING (XFN-ASIA) - Aluminum Corp of China Ltd (Chalco) said it will bid
for around 600 mln usd worth of assets put up for auction by state-owned parent
Chinalco Group, confirming a report yesterday in the official Shanghai
Securities News.

"We are interested in the assets and will bid for them," Chalco spokesman
Yang Zhenhai told XFN-Asia, adding that if its bids are successful, it will help
bring about "broader consolidation" in the aluminum sector.

Chinalco said it will auction off its stakes in six units: 100 pct of
Lanzhou Liancheng Aluminium Co; 100 pct of SWA Cold Rolling Strip Co; 75 pct of
Ruimin Strip Co; 60 pct of SWA Strip Co; 84.0 pct of Henan Aluminum Fabrication
Co and 56.9 pct of Huaxi Aluminium Co.

The closing date for bids is May 13, Chinalco said.

Chalco's Yang, asked to comment on reports that its parent may be seeking a
larger stake in miner Rio Tinto Ltd, he said he had "no new information" at this
time.

Chinalco, which recently teamed up with Alcoa Inc for a 14 bln usd stake
purchase in Rio Tinto, has been cited in some reports as considering a much
larger stake in the Anglo-Australian firm.andrew.pasek-vanburen@xinhuafinance.com

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