Aluminum Corporation of China Limited

Aluminum Corporation of China Limited

Company type	State-owned enterprise
Industry	Aluminum production, mining, engineering services
Founded	2001
Headquarters	Beijing , China
Area served	Global
Products	Alumina refining, aluminum smelting, bauxite mining, copper production, engineering services
Owner	Aluminum Corporation of China (Chinalco) (35.78% as of 2024)
Parent	Aluminum Corporation of China (Chinalco)

Aluminum Corporation of China Limited (, commonly known as Chalco), is a state-owned global enterprise based in Beijing, China. It is listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange, and forms part of the SSE 180 index.

By 2021, Chalco had risen to become the leading aluminum producer worldwide, overtaking rivals such as China Hongqiao Group, Rusal, and Shandong Xinfa.

Corporate Affairs

Aluminum Corporation of China Limited (Chalco) () functions as the principal commercial arm of its state-owned parent company, the Aluminum Corporation of China (Chinalco) (). Although closely associated, these entities have distinct responsibilities within China’s metals industry.

Chinalco operates as a fully state-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). It manages national non-ferrous metal resources, oversees strategic reserves, and controls subsidiaries including Chalco.

Founded in 2001 and publicly traded on the Shanghai and Hong Kong stock exchanges, Chalco was 35.78% owned by Chinalco as of 2024. It encompasses most of Chinalco’s operational assets and generates revenue through activities such as alumina refining, aluminum smelting, bauxite mining, copper production, and international ventures. Additionally, Chalco oversees overseas joint ventures and project financing, operating under a market-oriented framework accountable to both governmental and private investors, in contrast to its policy-driven parent company.

History

The parent company of Chalco, Aluminum Corporation of China (Chinalco), was created in 2001 amid China’s industrial reform initiatives.

In 2008, Chalco was included as a blue-chip stock within the Hang Seng Index.

Chalco’s $19.5 billion offer to acquire Rio Tinto in 2009 was declined, an outcome viewed within China as reflecting geopolitical opposition to its international resource expansion.

Operations

Aluminum Corporation of China Limited (Chalco) is engaged in alumina refining, primary aluminum production, mining operations, engineering services, and global joint ventures.

Smelting

In early 2024, Chalco launched a hydropower-powered aluminum smelting facility in Yunnan Province with a capacity of 400,000 tonnes annually. This green smelter supports China’s carbon reduction goals by substituting older coal-based plants.

Peru

Chalco developed an open-pit copper mine located in Peru’s Morococha District at the Mount Toromocho deposit. Production commenced in 2013 with an annual target of 250,000 tons of copper alongside silver and molybdenum byproducts.

In 2017, Chalco revealed plans for a $1.3 billion expansion intended to boost annual output by an additional 70,000 tonnes.

Guinea

As part of a Chinese consortium, Chalco is involved in developing the Simandou iron ore project in southeastern Guinea—one of the world’s largest undeveloped high-grade iron ore reserves. The initiative aims for an annual production exceeding 100 million tonnes once fully operational. The consortium members, including Chalco and Rio Tinto, are collaboratively constructing critical infrastructure such as a 600 km railway and a deep-water port.