Parent company re-increase stake in Rio Tinto, inland capital expenditure of Chalco down 20%

In face of fierce competition in electrolytic aluminium and soaring of cost, electrolytic aluminium plants is suffering from deficit, which is cutting the output. However, this offers new merging opportunities for Chalco. Besides, Chalco is going to cut capital expenditure in inland China by 20%; while remain the same for those of overseas market. 

Parent company re-increase stake in Rio Tinto

As for overseas business, Board Chairman of Chalco Xiao Yaqing told that all alumyte of Chalco in Australia would put into production in two years with annual output predicted to reach 210000T. Besides, the Australian government has approved the parent company to increase hold of Rio Tinto, which would, said Xiao, be decided according to the market condition. 

Chalco has purchased 2 coal mines in Henan and Gansu, which means the coal price will constantly become stable; it is predicted not to be higher than 400 yuan per ton. What¡¯s more, the company has purchased several electric plants, and predicted to expand the self-stored electric by above 20%.

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