Hongqiao Request Injunction Against “Defamatory” Reports from Emerson
The world’s largest aluminium firm has gone to court in Hong Kong to enjoin a group of short sellers from...
Hong Kong Stock Exchange
Hongqiao Announces Sale of 650 MM Shares in Attempt At Paying Down Debt
Hongqiao, the world’s largest aluminium producer announced on Tuesday a push to raise HK$6.24 billion (US$800 million) via the sale of new shares just a day after announcing a trading halt. China Hongqiao Group Limited made the announcement in a filing to...
Zhang Shiping Purchases 18 Million Shares as China Hongqiao’s Stock Resumes Trading in Hong Kong
Seven months after requesting it be suspended from trading on the Hong Kong Stock Exchange, stocks of China Hongqiao Group...
Hongqiao Must Address Audit Findings, Short Seller Allegations to Resume Trading: HKEX
China Hongqiao Group announced yesterday the receipt of a letter detailing the conditions under which it may be allowed to...
Events
Ernst & Young Quits as Hongqiao’s Auditor
The world’s largest aluminium producer hit yet another speed bump on the road to releasing 2016’s financials after its independent auditor resigned late last week. China Hongqiao Group made the announcement on Friday in conformance with the Hong Kong Stock Exchange’s rules. According to Hongqiao, its now-former auditor Ernst & Young recommended that an independent investigation be […]
Anglo-African Minerals to Join with Chinese Firms in Guinea Bauxite Project
Irish exploration firm Anglo-African Minerals recently announced a €200 million joint venture with China New Era Group and China Geo-Engineering Corporation to begin mining bauxite in Guinea. Tipperary’s Anglo-African, which has had a presence in the country since 1998, owns four bauxite licenses in Guinea. The firm has signed an agreement that the outcroppings, covering […]
Chalco to Privatize Chinalco Mining Corporation
Days after a similar announcement by China Xingfa, state-owned Aluminium Corporation of China (Chalco) filed plans with the Hong Kong Stock Exchange proposing to privatize its subsidiary Chinalco Mining Corporation International (CMC). Chalco is offering HK$1.39 per share, which is roughly one third above the stock’s recent price. The firm suspended trading on September 15, […]
China Xingfa Resumes Trading After Announcing Privatization Plans
Shares of China Xingfa Aluminium resumed trading on Friday after remaining idle for over a week on the announcement that the state-owned enterprise would soon be de-listing from the Hong Kong Stock Exchange. Representatives from the firm filed an announcement on Thursday indicating that the aluminium smelter is planning to privatize. Its majority shareholder, the […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
