CHALCO Looks for Diverse Operations

A senior official from Aluminum Corporation of China Limited (CHALCO) said the state-owned company plans to diversify its portfolio beyond the aluminum sector in the next three years, and is ready to exploit the coal and iron ore markets. CHALCO is in talk about mining rights in the Simandou Iron and Ore Project with the Guinea government, which is now preoccupied by the presidential elections. The company has to purchase 20 million tons of coal annually, accounting for 40 percent of its total production cost. Its seven chief business sectors span aluminum, cooper, rare earth, overseas engineering, trade, resources and overseas investment.