Confident Chinalco sees deals in 2010

Aluminum Corp of China (Chinalco), the top aluminum group in the country, reported that the company will further expand into overseas resources, and its confidence remains undimmed by the failure to raise its stake in Rio Tinto.

The press release is quoted as saying:

Chinalco’s listed unit and operator of its aluminum and alumina assets, Chalco (2600.HK), would also see much higher revenue and a better performance this year than in 2009. China’s aluminum output is expected to grow 30 percent to 17 million tonnes this year, while consumption will grow 20 percent to 16.5 million tonnes, he said. Alumina production will grow 30 percent to 31 million tonnes, while demand will rise 33 percent to 35 million tonnes.

Click here to access the entire press release

Click here to access Aluminum Corp of China Corporate Site

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