BEIJING (Reuters) - A senior executive at Aluminum Corp of China Ltd (Chalco), the listed arm of Chinalco, has been named head of Yunnan Metallurgical Group [YUMET.UL] after a tie-up between the state-run firms was announced earlier this week.
Xu Bo, a vice president since 2013 of Chalco, will serve as chairman and secretary of Yunnan Metallurgical Group, the latter said in a statement on Thursday. It was unclear if Xu would continue in his role at Chalco.
Yunnan Metallurgical Group, whose interests include a 42.57 percent stake in key regional smelter Yunnan Aluminium Co Ltd, is being merged into a Chinalco-controlled joint venture, the companies said on Monday.
The group owns stakes in several metal firms in China’s southwestern Yunnan province.
Analysts say Chinalco’s pursuit of aluminium assets in Yunnan was motivated by a desire to acquire environment-friendly smelting capacity that uses hydropower.
Xu “enjoys a high reputation in energy sectors such as coal and electric power,” and has experience in hydropower, according to Chalco’s annual report.
His predecessor at Yunnan Metallurgical Group, Tian Yong, will be transferred to Chalco after spending 37 years in the Yunnan metal industry, the statement said, without providing details on Tian’s new role.
Chinalco did not immediately respond to a request for comment.
Reporting by Tom Daly; Editing by David Holmes