Chinalco gets official go-ahead to add iron ore to its core business

Wednesday, 21 July 2010 11:59:50 (GMT+2)

Aluminum Corp. of China Limited (Chinalco) has received official approval from China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) to adjust its core businesses to also include iron ore and nonferrous metals.

Accordingly, the country's largest aluminum producer Chinalco will be able to focus on the exploitation of mineral resources excluding petroleum and natural gas, on the smelting and processing of nonferrous metals, as well as on relevant trade, projects and technical services, the SASAC said in a statement on its official website.

Chinalco is the largest single shareholder of Australian mining giant Rio Tinto. In March this year, the two parties signed a partnership agreement regarding the exploration of the Simandou iron ore deposit in Guinea, West Africa.

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