Chinalco to Complete Bowen Refinery Study, Australian Reports

June 20 (Bloomberg) -- Aluminum Corp. of China plans to complete a feasibility study on an alumina refinery at Bowen in Queensland state, the Australian newspaper reported. The work is on schedule and will be concluded in accordance with an earlier commitment to the Queensland state government, the newspaper said, quoting a spokeswoman for Chinalco, as the state-owned company is known. Chinalco is completing the study after the collapse of the company’s proposed $19.5 billion investment in Rio Tinto Group closed out the option of processing bauxite from its Aurukun mine at Rio’s Yarwun refinery, the newspaper said. Depressed demand for alumina makes early construction of a new refinery unlikely, the Australian said, citing analysts it didn’t name. Chinalco and Rio may still agree to cooperate in Queensland once acrimony from the failed deal eases, the newspaper said. To contact the reporter on this story: Gavin Evans in Wellington at gavinevans@bloomberg.net