China's aluminum industry to increase resource acquisition this year

March 1, the company's chairman and CEO Xiong said at a meeting held in Shanghai, China's aluminum industry, that Chinalco had identified a strategy for the international multi-metal mining company, focusing on such resources as copper, aluminum, iron ore, rare earths and coal.　　At present, the parent company Chinalco has no plans to inject copper and rare-earth assets into listed companies.　　China Aluminum (601600) Released 2010 Annual report shows that the company to achieve revenue of 121 billion yuan, an increase of 72.19%, attributable to the parent company net profit of 778 million yuan, equivalent to 0.06 yuan per share, a profit of the year. Capital expenditure has increased twice times this year in 2010, and Chinalco's capital expenditure was 9 billion yuan, down 1.7 billion from 2008.　　Xiong said that this year, the company planned capital expenditure of 22.5 billion yuan, focusing on increasing the acquisition and development of bauxite resources, and strive to obtain 500 million tons of bauxite resources at home and abroad. China's aluminum industry at the end of 2010, the balance of 69.5 billion yuan, an average annual interest rate of 4.72%, in 2011 to increase capital spending plan, while its own funds have been stretched.　　At present, Chinalco has announced in the interbank market issued no more than 25 billion yuan debt financing tools, as well as plans to target 1 billion shares to raise 9 billion yuan. According to the China aluminum January 31 announced the Non-public offering plan, the collection of funds deducted from the issue fee will be used for the company's Xing ' an alumina project, Zhongzhou Branch processing Bayer system expansion project, as well as supplementary liquidity.　　From the 2009 China aluminum industry 10 billion yuan not in the open issue of the project to see, in addition to Chongqing 800,000 tons of alumina project has been completed, other investment projects unchanged.　　China aluminum industry announced last July 1 that, in view of the global aluminum industry market situation has undergone a significant adverse changes, the Australian Aurukun Project due to a number of adverse factors constraints to continue, the two sides agreed to terminate the cooperative development.　　Jianchuan, executive director and President of Chinalco, said the company is currently in the new round of negotiations with the Australian Queensland, State Of government on the Aurukun Bauxite resource development project, hoping to pursue the development of a separate bauxite project, and in South-east Asia to secure a certain amount of resources to ensure the domestic alumina raw materials demand.　　Coal resources reserves will be greatly broken after the establishment of the international multi-metal mining company strategy, China's aluminum industry is also actively developing the most closely related to the traditional aluminum industry, the integration of aluminum, expanding coal resources at home and abroad, including with Rio Tinto overseas cooperation to develop coking coal project. Xiong introduced, will actively expand coal resources, build energy sector, strengthen the proportion of power generation.　　The company has announced its participation in Shanxi Jiexiu Coal resources integration, at the same time with Shanxi, Xinjiang, Inner Mongolia, Gansu, Qinghai and other provinces are talking about coal projects, to achieve this year's coal resources occupancy of 5 billion tons.　　In addition, Chinalco plans to start a 5 million-ton/annual coal mine project this year, but it is still in the stage of a programme demonstration. In the coal strategic layout, last December 31, China aluminumThe parent company of Chinalco and the Guizhou provincial government signed a strategic cooperation agreement.　　According to the agreement, "Twelve-Five" period, China and the aluminum in Guizhou as an important industrial base, will invest 34.5 billion yuan to build Guiyang, Zunyi coal-electric aluminum integrated circular economic industrial base; Meanwhile, Guizhou will support the implementation of deep strategic structural adjustment, expand and extend the industrial chain. China Aluminum Vice President, Executive director Liu Xiangmin said, Guiyang, Zunyi coal-electric aluminum integration base construction of concrete work is being carried out, such as the exploration of resources and the preparation of the project EIA report.