China aluminum major shareholder in Jiang Tungsten Group rose 7.5% today

NetEase Finance September 29 September 26, Chinalco and Jiangxi Sasac initialled the "Jiangxi Rare Metals Tungsten Holding Group Co., Ltd. Capital increase and expansion of the shares agreement."　　Under the agreement, after the approval of the Jiangxi provincial government, Chinalco will increase the capital to invest in Jiang Tungsten, become its controlling shareholder. Jiang Tungsten, a large state-owned industrial group held by Sasac in Jiangxi Province, has preliminarily formed non-ferrous metal industry plates such as tungsten, molybdenum, bismuth, tin, rare earth, nickel and cobalt, recycled metals, and has more than 3 million tons of metals in reserves and control.　　By the end of 2009, Jiang Tungsten total assets of 11.146 billion yuan, 2009 to achieve sales revenue of 8.94 billion yuan.　　This is a substantive progress agreement between the two sides following the signing of the Strategic cooperation Framework Agreement between Chinalco and the Jiangxi Provincial government March 13 this year. Although the investment behavior of major shareholders, Chinalco has been trying to open up new business areas. The takeover of Rio's Simao mining industry in August this year was widely interpreted as a strategic transition for companies to reduce the pressure on performance from fluctuations in the aluminium industry.　　In this kind of listed companies to seek more business development background, the large shareholder of aluminum company into a variety of business, resource-rich Jiang Tungsten Holdings, nature for the market to provide a full range of imaginary space.　　Yesterday, the volume of China's aluminum trading, today to undertake the rally, the plate once again sealed the limit, after midday trading was opened, up to the close of 7.54%, the whole day deal 2.3 billion yuan, turnover sharply enlarged. Related news: China aluminum industry in Jiangxi Province