Chalco will buy shares in its subsidiary

Aluminum Corporation of China Chalco plans to buy 9.5% stake in its subsidiary, China Aluminum International Trading Group in Chalco Property Development. That the shares sum to 115 million yuan (17.45 million dollars) Chalco Property exposed for sale on the Beijing stock exchange. Previously reported that Chalco will develop Toromocho copper mine in Peru. Concern, in particular, has received the appropriate approval from the government. Investment in the mine are estimated at 2-2,5 billion Chalco bought mine for $ 800 million in 2007. Resources of the mine are estimated at 13 million tons. As you know, concern Chalco plans to invest 10 billion yuan (1.5 billion dollars) in the production of nonferrous metals in the eastern autonomous region of Tibet. The company has already signed a strategic agreement with the county Qamdo, which is located in this region. From the agreement that Chalco will invest these funds in the next 5-10 years. "Aluminum Corp of China Ltd." was founded in 2001. In the year of establishment of its property was estimated at 35.8 billion yuan, while in 2007 this figure rose to 201.4 billion yuan. In July 2008 the company entered the Top 500 richest companies in the world. In the ranking of the Fortune 476 company has taken the place of its income is estimated at 17.58 billion dollars Ministry of Industry