Chinalco has 34 directly owned or controlled subsidiaries, and approximately 200,000 employees.
Since its establishment in 2001, it has maintained an excellent financial performance. Between 2001 and 2007, Chinalco’s assets increased by a factor of approximately 4.7, representing a compound annual growth rate of nearly 29%. Over the same period, its total revenue increased by a factor of approximately 7.2, representing a compound annual growth rate of approximately 39%.
Aluminum Corporation of China Limited (“Chalco”), a subsidiary of Chinalco (38.56% owned), is listed in New York, Hong Kong and Shanghai and has a BBB+ credit rating from Standard & Poor’s. Chinalco also indirectly owns 26.61% of Yunnan Copper Co. Ltd, a Shenzhen-listed company.
Chinalco maintains an ongoing global expansion strategy and has made significant steps towards its goal of being a leading globally diversified mining company.
Its key overseas projects include
- Toromocho copper mine in Peru
- interest in Aurukun bauxite mine/refinery project in Australia through Chinalco’s interest in Chalco
- an expected involvement in the construction of a primary aluminum plant in Saudi Arabia again via Chalco.
In February 2008, Chinalco and Alcoa Inc. (“Alcoa”) jointly acquired a stake of approximately 12% in Rio Tinto plc, the UK listed arm of the Rio Tinto group (the world’s third largest mining company) to become its largest shareholder.
Chinalco is also exploring business opportunities in other countries including Russia, Vietnam, Mongolia, Guinea, Myanmar, Indonesia and India.
