Yunnan Aluminum Co., Ltd. may be acquired by Chinalco Group. Yunnan Aluminum announced on Jan. 31 that Yunnan Metallurgical Group, the controlling shareholder of the company, intends to transfer the controlling interest to Chinalco Group. The relevant proposals have not yet been finalized so far and all parties are actively negotiating the transaction.
Benefiting from rising aluminum prices and improved costs, Yunnan Aluminum expects net profit for 2017 to be approximately 655 million yuan ($104 million), an increase of 488% over 2016. The company currently operates an alumina refinery with an annual output of 1.4 million tons and several aluminum smelters with a total capacity of 1.58 million tons per annum. The company also has three greenfield aluminum smelter projects under construction, which will increase the total smelting capacity to 3 million tons per annum when completed.