Aluminum Corp of China

Aluminum Corp of China Limited (CHINALCO) is a company engaged in production of aluminum. It is sole producer of alumina and biggest producer of primary aluminum in People’s Republic of China. Aluminum Corp of China is ranked #536 on 2008 Forbes Global 2000 list.
Aluminum Corp of China (CHINALCO) is a public sector enterprise. This company is headquartered in Beijing, China. It is listed on Hong Kong (SEHK: 2600), Shanghai (SSE: 601600) and New York (NYSE: ACH) stock exchanges.

Brief history

Aluminum Corp of China Limited (CHINALCO) is a company engaged in production of aluminum. It is sole producer of alumina and biggest producer of primary aluminum in People’s Republic of China. Aluminum Corp of China is ranked #536 on 2008 Forbes Global 2000 list.
Aluminum Corp of China (CHINALCO) is a public sector enterprise. This company is headquartered in Beijing, China. It is listed on Hong Kong (SEHK: 2600), Shanghai (SSE: 601600) and New York (NYSE: ACH) stock exchanges.

Brief history
Aluminum Corp of China was incorporated in 2001. It has entered into a joint venture agreement with Shanxi Guanlv Co. Ltd to form a joint venture company, Shanxi Huasheng Aluminum Company Ltd. CHINALCO has also entered into an agreement with Liaoning Fushun Aluminum Plant on March 2006 to acquire 100% equity in Fushun Aluminum (Liaoning Fushun Aluminum Co. Ltd). Annual capacity of this venture is 140,000 tonnes.

Aluminum Corp of China entered into an agreement with Baiyin Nonferrous Metal (Group) Co. Ltd and Baiyin Ibis Aluminum Co. Ltd. This agreement resulted in a further capacity increase of 127,000 tonnes primary aluminum.

Products and services
Aluminum Corp of China is engaged in production and sale of alumina and primary aluminum in People’s Republic of China. CHINALCO also conducts research. It is engaged in alumina refining, primary aluminum smelting and bauxite mining operations. Aluminum Corp of China provides construction and engineering services.

Aluminum Corp of China also sells and produces alumina chemical products- including alumina hydrate. Product list includes gallium, carbon anodes and cathodes. This company reached a production target of 1,100,000 tonnes of alumina chemical products and 8,830,000 tonnes of alumina in 2006.

Financials
Sales of Aluminum Corp of China was US $10.134411 billion in 2007. Profits amounted to US $1.138577 billion. Total assets of company was calculated to be US $14.859328 billion. Aluminum Corp of China currently employs around 68,200 people.

Awards and recognition
Aluminum Corp of China won a nomination for ‘Best Investor Relations for a Corporate Transaction’ given by IR magazine in 2007.
 

Current financial crisis
Aluminum Corp of China suffered a decline in profits due to financial market meltdown. Decline in profits was mainly due to progressively lower metal prices and high production costs.