Aluminum Corp of China Acquires Unit of Liuzhou China Tin Group

BEIJING (XFN-ASIA) - Aluminum Corp of China (Chinalco) has acquired the nonferrous metals unit of Liuzhou China Tin Group, Chinalco said in a statement on its website.

The two sides signed the deal last week in Beijing, Chinalco said, without disclosing financial details.

Chinalco said the acquisition "will improve its value chain and boost its competitive position."

Separately in another statement also posted on its website, Chinalco denied a market rumor that it is planning to merge with or acquire a stake in Minmetals Development.

Chinalco is the parent of the Hong Kong-listed Chalco.

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