Minmetals resources expected to be injected into Australian mining assets by parent company

Li Fuli, vice president of China Minmetals, said yesterday that it would consider whether to inject five mineral resources (01208) after completing the acquisition of some of the mines in Oz, Australia, according to the report.　　In addition, with the price of aluminum rebounded at the beginning of the year, Minmetals resources have allocated a total of $143 million worth of inventory impairment in the first quarter. Li Fuli yesterday after the Minmetals resources shareholder meeting, said Minmetals resources as China Minmetals non-ferrous Metals business Overseas market flagship, the future will certainly be injected assets, but at present there is no specific timetable.　　Asked whether China Minmetals would be injected into the market after completing the acquisition of the Oz Mining mine, Lee's welfare response said China Minmetals would consider the issue. For the mainland recently announced the adjustment and revitalization of non-ferrous Metals industry planning, Minmetals Nonferrous (for direct holding of Minmetals Resources holding company) General manager Wang Li-wing said that regulators encouraged large non-ferrous metals groups through mergers and acquisitions of small and medium-sized enterprises to restructure the mainland non-ferrous metals industry; therefore, China Minmetals will have more mergers and acquisitions in the future,　　Of course, so that the five mineral resources have greater development space. In addition, Minmetals Resources managing director Sheng said that the price of electrolytic aluminium has rebounded by nearly 20% since the beginning of the year, and the price of alumina has rebounded by about 30%, so that the company can reduce the value of its $143 million inventory in the last year to be reimbursed in full in the first quarter. However, he acknowledged that there had been no change in the pattern of oversupply of the market, so the chance of further increase in aluminium prices was higher than that of the school. This year, the target trade volume of alumina was 1.2 million tonnes, which traded at 1.43 million tonnes in real terms last year. The volume of trade in aluminium ingots was similar to that of last year, at 100,000 tonnes in 08.