Chinalco confirmed to expand it core business

Yesterday SASAC announced the core business of Chinalco has expanded from bauxite and rare rare-earth metals exploration & processing to all mineral resources development excluding petroleum and natural gas, nonferrous metals process, relevant trading and engineering service. The measure will reduce the difficulty of acquiring other mineral companies and help Chinalco to enhance its strength and promote the reform of whole nonferrous metal industry.

Yesterday, aluminium turnover was expanded, and shares rebounded to High of 6.35 Hong Kong dollars, closed at 6.44 HK dollars, the first time to be above 50-day average level nearly 4 months.

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