The latest announcement is out from Aluminum of China ( (HK:2600) ).
Aluminum Corporation of China Limited announced the establishment of a joint venture named China Copper (Tibet) New Energy Company Limited, in collaboration with China Copper Tibet Mining Co., Ltd. and Tibet Development and Investment Group Company Limited. The joint venture aims to leverage the strengths of its partners, with Ningxia Energy, China Copper Tibet, and Tibet Development Investment holding 23.90%, 56.10%, and 20.00% equity interests, respectively. This strategic move is expected to enhance the company’s position in the energy sector, although the joint venture will not be consolidated into Chalco’s financial accounts. The transaction is classified as a connected transaction under Hong Kong Listing Rules, and the company has committed to fulfilling its disclosure obligations as the agreement progresses.
More about Aluminum of China
Aluminum Corporation of China Limited, also known as Chalco, is a major player in the aluminum industry, focusing on the production and sale of aluminum products and related services. The company is involved in various aspects of the aluminum supply chain, including mining, smelting, and processing, and is a significant entity within the Chinese market.
YTD Price Performance: 12.55%
Average Trading Volume: 12,050
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $15.54B
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