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Aluminum Corporation of China Limited

 
Hoover's Profile: Aluminum Corporation of China Limited
(NYSE:ACH)
Company Financials
Income Statement
Balance Sheet
Cash Flow Statement

Contact Information
Aluminum Corporation of China Limited
No. 62 N Xizhimen St., Haidian District
Beijing 100082, China
Tel. +86-10-8229-8080

Type: Public
On the web: http://www.chinalco.com.cn
Employees: 107,887
Employee growth: 14.4%

Aluminum Corporation of China Limited (Chinalco) has masterminded its way into mixing alumina and aluminum. Chinalco is the only maker of alumina -- which is refined from bauxite and is the key material in producing aluminum -- in China. The company produces about 9 million tons of alumina products (including alumina, alumina hydrate, and alumina chemicals), which makes it the second-largest maker of alumina in the world. Chinalco also produces a million tons of primary aluminum annually. In 2007, the company acquired sister company Baotou Aluminum for about $2 billion.

Key numbers for fiscal year ending December, 2008:
Sales: $11,194.3M
One year growth: 7.5%
Net income: $23.1M
Income growth: (98.5%)

Officers:
Chairman and CEO: Xiong Weiping
President and Director: Luo Jianchuan
VP, CFO, and Executive Director: Chen Jihua

Competitors:
Alcoa
Alumina
Rio Tinto Alcan

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Wikipedia: Aluminum Corporation of China Limited
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Aluminum Corporation of China Limited
中国铝业
Type Public (SEHK: 2600, NYSE: ACH [1]
Founded Beijing, China (2001 (2001))
Headquarters Beijing,  People's Republic of China
Key people Xiong Weiping (President)
Industry Aluminum
Products Aluminum products, Cooper products [2]
Total assets RMB 377.7 billion (2008)
Owner(s) State Council
Employees 107,887 (2008)[3]
Website chalco.com.cn www.chinalco.com

Aluminum Corporation of China Limited, also known as Chalco or Chinalco (SEHK: 2600, NYSEACH, SSE: 601600), is the only producer of alumina and the largest producer of primary aluminum in the People's Republic of China.[4] Chalco is a member of the SSE 50. It is the world’s second largest alumina producer and the third largest primary aluminum producer.

History

Aluminum Corporation of China (CHINALCO) is a state-backed holding company established to be the primary aluminium producer in the People's Republic of China in 2001. [5]It is the parent company of Aluminum Corporation of China Limited (CHALCO) which is listed on the New York, Hong Kong and Shanghai stock exchanges.[6]

With effect from 10 June 2008, Chalco was added to the Hang Seng Index Constituent Stock (blue chip).[7]

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.[8]

Chinalco holds a 9% stake in Australian mining company Rio Tinto.[9] Rio Tinto controls large Iron ore reserves in Australia. On June 5, Rio Tinto broke a deal for Chinalco to purchase a larger stake the company, with support by rival Australian mining company BHP Billiton. Rio Tinto is expected to pay a US$195 million breaking fee according to the contract signed earlier by the two parties.[10]

References

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