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Chinalco realized all profits in all sectors

Mar 07,2018

Chinalco realized all profits in all sectors

Among the non-aluminum industries of Chinalco, the copper segment that owns the Yunnan Copper Group and Peruvian copper mines has always been its strategic focus. In recent years, the scale of its industries has been constantly expanding and its competitiveness has rapidly risen. As early as 2015, Chinalco signed a strategic cooperation agreement with Yunnan Province to carry out comprehensive and in-depth cooperation in the nonferrous metal industry and work together to make the copper industry bigger and stronger. In 2016, Chinalco relocated its headquarters of China Copper to Yunnan, becoming the headquarters of the central government in Kunming. Subsequently, the Chinese copper management system was reformed to implement the "double headquarters" operating mode with Beijing headquarters as the decision-making center and Kunming headquarters as the operation center. In 2017, Chinalco and China Chengtong jointly set up the Beijing State-owned China Aluminum Copper Industry Development Fund for the supply-side structural reform of the copper block project. The data from Chinalco show that the total assets of the Group's copper plates are close to 100 billion yuan, accounting for more than 18% of the Group's total assets. Its China Copper subsidiary achieved its best annual operating result since its establishment in 2017.

The development of the aluminum-copper industry has given way to precision management in China without the extensive mode of production. In the external world, it has exerted its power in both directions of resource acquisition and capacity integration. According to insiders of Chinalco, last year China Copper completed the integration of the domestic assets of the copper plate. Projects such as Prang Copper Mine, Tongchanggou Copper and Molybdenum Mine, and Qinghai Niu Bitou Lead-Zinc Mine, which are key projects, have been put into trial operation. Southeast, north of the three major copper smelting base has been completed. Among them, the Pulang copper mine is extremely rich in mineral reserves and has been listed as one of the 47 key exploration projects in the whole country in the "12th Five-Year Plan" for non-ferrous metal industry. Chinalco insiders said in an interview with reporters: "After the completion of two major projects, namely, Southeast Copper Industry and Chifeng Cloud Copper in 2018, Chinalco's refined copper production capacity will double on a year-on-year basis and enter the domestic copper industry The first phalanx. "However, overseas, the Peruvian copper mine, as China's first-class large-scale ore mine in operation and construction in South America, has been transformed from a loss at the initial stage of production into a profit and its profitability is rapidly increasing.

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