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[April 2001]
China Creates "Alumina Monolith"
According to LIRR, the Government of PR China has drawn together all of its alumina assets to form a State-run integrated aluminium giant and plans to seek overseas listing soon for the newly created company.
The Aluminum Corporation of China (Chinalco), which is composed of the six largest alumina manufacturers in the nation as well as research institutes and construction firms, is claimed to have become the third largest alumina producer in the world, after the USA based Alcoa Inc and Canada's Alcan Aluminium Inc.
The aluminium giant, with assets of 35.6 billion yuan (approx US$4.3 billion), produces 70% of the domestic market's alumina and 23% of its aluminium. The remaining 30% of the alumina production, roughly 1.9 million tons, is accounted for by exports.
According to the LIRR report, Chinalco plans to turn out 4.3 million tons of alumina and 680,000 tons of aluminium in 2001. By 2005, Chinalco is expected to boast an annual production of 6 million tons of alumina and 1.4 million tons of aluminium.
ENDS