Aluminum Seek Absolute Control Of Copper In Yunnan Copper For More Corporate Mergers And

No hope of 2009 earnings, the Aluminum Company earnings outlook for 2010 remains very positive

. Deputy general manager of Al Lv Youqing 21, said the company has set a 2010 170 000 000 000 -1800 million Sell Income, profit 5 billion yuan of business objectives.

It is understood that the internal structure of the ongoing integration of Alcoa, has been formed, including aluminum, copper, rare earth, works seven large plates, aluminum 2010, the company will focus on the development of copper plates, and strive to scale with the upgrade.

Copper plate this year, fat, force

In the field of aluminum in copper attempt as early as 2007 began. At that time, the aluminum company spent 7.5 billion won by the way to increase their investment in Yunnan Copper Industry (000 878) the controlling shareholder of Yunnan Copper Group Co., Ltd. 49% stake in Yunnan Copper Group, the remaining shares are held by SASAC and Yunnan Yunnan Province Guozigongsi ownership, the aluminum company's relative control of Yunnan Copper Group formed.

"We plan to further enhance its stake in Yunnan Copper Group." Lv Youqing said that the current in the aluminum companies have reached a consensus and Yunnan, the future will be the formation of aluminum on the Yunnan Copper absolute control, the current holdings of the two sides are on the number of discussion.

However, the aluminum company's attempt to clear for the copper industry and more than that. It is reported that by the end of 2009 the company established the aluminum, copper, rare earth, engineering, international trade, resources, overseas seven major business segments. Aluminum plate for the largest share of the development of aluminum that will not do in terms of scale development; rare earth plate still creating stage, do not rush to scale; the company in 2010 will focus on expanding the size of the copper plate.

"We look for new smelting capacity is very large, but in terms of aluminum in the development of copper in principle, the existing copper and domestic enterprises will be Cooperation The main course of cooperation, including equity cooperation. "Lv Youqing said that although the national copper industry, the primary question is resource self-sufficiency rate is not high, but aluminum is the lack of resources has a copper smelting downstream processing package.

Aluminum copper project in Peru will enter the mine construction phase this year, is expected to be 2-3 years after the ore output. Lv Youqing pointed out that as China's over-reliance on foreign copper ore resources, resulting in the establishment of copper smelting in China can be said almost no profit, so the company will not stick to the establishment of smelters in China, global production capacity will be chosen layout One.

Call resource commodity prices According to the company's disclosure of aluminum, as of the end of 2009, the company annual sales income of 142 billion yuan, an increase of more than 10% year on year, especially in August 2009, the realization of the monthly operating profit in the second half to achieve overall profitability , then bauxite mining capacity from the first time more than 10 million tons.

In addition, the main products in 2009 were significantly down year on year cost of production, alumina unit manufacturing costs down 18%, costs down 17% aluminum, copper down 35%. And by expanding the financing channels, improving the capital structure, the aluminum based on the financial cost of saving 170 million yuan.

2010, Lv Youqing more optimistic. He said that although representatives of non-ferrous metals as commodity prices have rebounded in 2009 to levels high enough, but he expects copper, aluminum, nonferrous metal prices as the representative will still have room to rise by 2010, the overall shock will show up trend.

It is for the price of resource products optimistic estimates, the aluminum company set a 2010 170 000 000 000 -1.8 thousand billion revenue business objectives.

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by: gaga

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