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Aluminum Corp of China to explore for copper in Mongolia PDF Print E-mail
Thursday, 23 August 2007
China’s largest producer of copper has purchased a controlling interest in Yunnan Copper Group, which is exploring for copper in Mongolia. 

Aluminum Corp of China, also known as Chinalco, is the parent company of China’s largest producer of metals. It has purchased a 49 percent stake in Yunnan Copper Group for an undisclosed sum. 

Observers believe this is a move to allow Chinalco to further expand into base-metal production. 

Chinalco currently owns aluminum, copper, molybdenum and other metal resources. However, the company has been rapidly moving away from its aluminum business and focusing on copper. 

Chinalco Chairman Zou Shaolu has announced plans to increase output by two-thirds, to 600,000 tons annually, by 2010 to exploit the copper demand in China. China is the world`s largest copper consumer. 

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