Aluminum Corporation of China Limited

Aluminum Corporation of China Limited (, also known as Chalco) is a state-owned multinational corporation headquartered in Beijing, China. It is publicly listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange, and is part of the SSE 180 index.

In 2021, Chalco was the world's largest aluminum producer, surpassing China Hongqiao Group, Rusal, and Shandong Xinfa.[3]

Corporate Affairs

Aluminum Corporation of China Limited (Chalco) is a publicly listed company and serves as the principal commercial arm of its state-owned parent, the Aluminum Corporation of China (Chinalco). While both entities are closely related and share similar names, they perform different functions within China's metals industry.

The Aluminum Corporation of China is a wholly state-owned enterprise under the direct administration of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). It is responsible for national-level oversight of non-ferrous metal resources, manages strategic reserves, and serves as the parent entity for a range of subsidiaries, including Chalco.

Chalco, officially Aluminum Corporation of China Limited (中国铝业股份有限公司), was established in 2001 and subsequently listed on the Shanghai Stock Exchange and Hong Kong Stock Exchange. As of 2024, Chinalco retains a 35.78% controlling stake in Chalco. Chalco houses most of Chinalco's operational assets and is responsible for its revenue-generating activities, such as alumina refining, aluminum smelting, bauxite mining, copper operations, and overseas project investments.[4][5] Chalco is also the vehicle through which Chinalco interfaces with global markets, engages in foreign joint ventures, and secures project financing. In contrast to its policy-oriented parent, Chalco operates under a market-based framework and is accountable to both state and private shareholders.

History

Aluminum Corporation of China (Chinalco), Chalco's parent company, was established in 2001 as part of China's industrial restructuring strategy.

In 2008, Chalco was added to the Hang Seng Index as a blue-chip constituent.[6]

Chalco's attempted $19.5 billion investment in Rio Tinto in 2009 was rejected, a move that was interpreted in China as part of a broader geopolitical pushback against its global resource acquisitions.[7]

Operations

Aluminum Corporation of China Limited (Chalco) operates across several major business segments, including alumina refining, primary aluminum smelting, mining, engineering and technical services, and international joint ventures.

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