Aluminum Corporation of China
#1249
Rank
$14.4B
Marketcap
China
Country
Mr. Jianping Liu (Exec. Chairman)
Mr. Runzhou Zhu (Pres & Exec. Director)
Mr. Xiaowu Ou (Exec. Director)
Summary
History
Aluminum Corporation of China is a state-backed holding company established to be the primary aluminium producer in the People's Republic of China in 2001. It is the parent company of Aluminum Corporation of China Limited which is listed on the New York, Hong Kong and Shanghai stock exchanges.Effective from 10 June 2008, Chalco was added to the Hang Seng Index Constituent Stock .Chinalco is investing $3 billion to begin open-cast mining operations, within three to four years, in Morococha District, Peru. The company plans to extract copper ore from Mount Toromocho.Chinalco holds a 9% stake in the Anglo-Australian mining company Rio Tinto. Rio Tinto controls large Iron ore reserves in Australia. On June 5, Rio Tinto broke a deal for Chinalco to purchase a larger stake in the company, with support by rival Anglo-Australian mining company BHP. Rio Tinto is expected to pay a US$195 million breaking fee according to the contract signed earlier by the two parties.In 2010, Chinalco reported a net profit of ¥778.01 million, a dramatic rise when compared with the company's ¥4.62 billion losses from the previous year. The company credits increased prices and effective cost control strategies with the financial turnaround.During July 2011, Chinalco signed a long-term agreement with Mongolian miner Tavan Tolgoi to import more than 15 million tons of coking coal annually to meet increased domestic demand.
Mission
Vision
Key Team
Mr. Maosen Wu (VP)
Mr. Tao Jiang (Exec. Director & VP)
Mr. Xiaolei Ge (CFO & Joint Company Sec.)
Ms. Hangfang Gao (Head of Accounting Department)
Ms. Shan Shulan (GM of Financial Property Department & Shareholder Representative Supervisor)
Ms. Ka Man Ng A.C.I.S., A.C.S., ACIS, ACS (Joint Company Sec.)
References
Mr. Jianping Liu (Exec. Chairman)
Mr. Runzhou Zhu (Pres & Exec. Director)
Mr. Xiaowu Ou (Exec. Director)