September 15, 2009 / 12:03 PM / 8 years ago

UPDATE 1-Chinalco says still keen on overseas deals

(Adds quote, details)

LONDON, Sept 15 (Reuters) - Chinese metals conglomerate Chinalco is still keen to expand and make overseas acquisitions despite the setback of its failed investment in Rio Tinto (RIO.L) earlier this year, its president said on Tuesday.

    “The Rio Tinto setback will not jeopardise our interest in international expansion and overseas acquisitions,” Chinalco President Xiong Weiping said at a conference on China held in London.

    Chinalco, the state-owned parent of Aluminum Corp of China Ltd, also known as Chalco (2600.HK) (601600.SS), is trying to rebound from its failed $19.5 billion investment in Rio Tinto (RIO.AX).

    It had vowed to seek other investments abroad, focusing on metals at the core of its strategy, such as aluminium and copper, rather than iron ore, a key element of the Rio deal. [ID:nHKG330727]

    Reporting by Daisy Ku; Editing by David Cowell

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below