Chinalco plans to build copper plant in Yunnan

Bloomberg reported that Aluminum Corp of China, which took control of Yunnan Copper Group Co in October plans to invest CNY 2 billion to build its largest copper processing plant in the southwestern Yunnan province.

Chinalco in a statement said that the plant will have the capacity to produce 100,000 tonnes of plates and 200,000 tonnes of wires and rods a year.

The statement added that Chinalco is also seeking to diversify into other metals and this year also bought a 9% stake in the world's second largest iron ore producer Rio Tinto Group with Alcoa Inc. The new plant may generate sales of CNY 7 billion a year.

Chinalco has three copper-processing plants in Luoyang city of Henan province, Shanghai and Daye city of Hubei province with a combined capacity of 350,000 tonnes of plates or 28% of China's total.

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