Chalco to absorb Inner Mongolia Huayun in restructuring move

Aluminum Corporation of China (Chalco) [HKEX: 2600] announced a strategic restructuring initiative involving its subsidiary companies. Baotou Aluminum, a wholly-owned Chalco subsidiary, will absorb and merge Inner Mongolia Huayun, a non-wholly owned subsidiary, with Chalco and Chinalco owning 65.5759% and 34.4241% of the resulting entity respectively. The company will also establish a new joint venture, China Copper (Tibet) New Energy Company Limited, with Ningxia Energy, China Copper Tibet Mining Co., Ltd., and Tibet Development and Investment Group Company Limited, with investments of RMB1,139.2583 million, RMB2,674.1586 million and RMB953.3542 million, respectively.