Chinalco wants foreign teamwork over Queensland bauxite

Shanghai, Sep 1 (www.cnal.com)---Chinalco is expecting partnership with foreign companies such as Alcoa over bauxite project in Queensland, Australia, the company will also welcome domestic companies’ participation, and Chinalco doesn’t intend to enjoy a wholly-controlled stake, Chinalco’s chairman Xiao Yaqing said today. Mr. Xiao noted that many companies have showed interests over Chalco’s projects, such as the bauxite project in Queensland, aluminium plant in Saudi Arabia and the copper mine in Peru, while without no agreements yet. The underway bauxite mine will have an annual capacity of 10 million tons, 70 percent of which is estimated to come on stream by the end of next year, he added. He also said that the company has not decided when to lift Rio’s stake, which will depend on the market conditions and the company’s need.