Aluminum Corp of China (Chalco)

China to Loan Guinea US$20 Billion for Access to Bauxite Reserves

China to Loan Guinea US$20 Billion for Access to Bauxite Reserves

The Republic of Guinea will be the recipient of a US$20 billion loan from the People’s Republic of China in exchange for concessions on its significant bauxite ore reserves. According to reporting yesterday by Reuters, the loan will be disbursed over twenty...

Events

Massive Debt Forces Chinese Firm to Idle Smelter, Refinery in Shandong

According to Aladdiny, a Chinese information provider, Shandong Qixing Group Co., Ltd. suspended operations of its 130-thousand-metric-ton-per-annum aluminium smelter and is planning to stop production at its 500-thousand-metric-ton-per-annum alumina refinery due to the firm’s substantial debt burden. The report went on to say that the company might consider re-starting production in six months should the […]

Chalco’s First-Half Results Up Thanks to Bump in Global Aluminium Prices

State-backed Aluminum Corporation of China Ltd (Chalco) published results for the first half of 2016 on Thursday. The firm posted an increase in profits thanks to a modest recovery in the global aluminium market. The firm posted a net profit of US$8.62 million in the first six months of the year, which is a significant […]

Chalco Enters Into Gold-Leasing Contract with Bank of Communications

State-owned Aluminum Corp of China threw the metals market for a loop when they announced that they have entered into a US$460 million batch of gold leasing contracts. This latest announcement apparently lays bare the financial difficulties the aluminium supplier is now experiencing in the aluminium market it once helped to flood. This latest deal […]

Six Major Chinese Smelters Agree to Cut Production if Aluminium Falls Below US$1,717

According to sources with knowledge of the events, six of the People’s Republic of China’s major smelters agreed to cut production in the event that aluminium prices drop below US$1,717 per metric ton. China’s Nonferrous Metals Industry Association (CNIA) held the meeting yesterday with several of the major players in the domestic aluminium industry to […]