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Aluminum Corp of China to acquire Mongolian copper mines PDF Print E-mail
Wednesday, 05 September 2007
ImageAluminum Corp of China (Chinalco) will begin actively seeking copper deposits in Mongolia as they seek to diversify their metal businesses. 

Chinalco is currently China’s largest aluminum producer. However, officials have said they would seek to expand their business into copper metals, as well. 

"Metal companies that depend on a single metal cannot secure a sustainable competitive advantage," Lu Yongqing, the company's vice-president said on Friday.  

Chinalco has set aside nearly $4 billion to expand into copper mining in Mongolia, as well as other nations. 

While copper only accounts for less than ten percent of Chinalco’s current business, their aggressive acquisitions now make them the largest holder of copper reserves in China.

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The Hovsgol GEF/World Bank launched their new website. It contains lot's of information on the area of Hovsgol and the research that is being carried out there.
You can see it yourself at hovsgolecology.org.