Chinalco to explore for minerals in Tibet
BEIJING, Sept 4 (Reuters) - Chinese aluminium and copper giant Aluminum Corp of China, or Chinalco, has set up a unit to explore for minerals in Tibet, the company said on its website.
The unit will engage in exploration, metals smelting and sales, Chinalco said.
"Chinalco Tibet Mining Ltd was established under the blue skies and white clouds of Lhasa," Chinalco, parent of listed Chalco (601600.SS) said in the announcement posted on www.chalco.com.cn.
Chinalco joins fellow Chinese miners Western Mining Co (601168.SS) and Zijin Mining Group Co Ltd (2899.HK), which plan to begin production this month from the Yulong copper deposit, in southeastern Tibet, which is the largest in China.
A railroad to Lhasa, completed two years ago, will be extended to other areas of Tibet in the upcoming few years, easing access for miners eager to get equipment in and metals out to fuel China's rapidly growing economy.
China says the railway will help boost Tibet's economy, while many Tibetan activists say the influx of Chinese labour and industry does little to benefit native Tibetans, while harming the plateau's fragile environment.
(Reporting by Lucy Hornby, Editing by Peter Blackburn)
