皇冠体育app

(Xinhua)
Updated: 2008-01-13 17:48

Aluminum Corp of 皇冠体育app (皇冠体育applco) said its 2007 sales revenue rose 24.1 percent to 131.7 billion yuan ($18.04 billion) as it made progress in expanding its business to include copper and acquired large projects overseas.

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The world's second-largest alumina producer after Alcoa Inc was applying to list in the Fortune Global 500 and would probably enter the ranking system in the middle of the year, 皇冠体育applco deputy general manager Lu Youqing said.

Its annual profits had exceeded 20 billion yuan for two consecutive years and its assets reached 201.4 billion yuan, Lu said.

皇冠体育applco produced 10 million tons of alumina last year, up from 9.62 million tons in 2006 when the company accounted for 73 percent of 皇冠体育app's total alumina output.

The company's output of aluminum surged 20.7 percent year-on-year, copper cathode up 20.6 percent and titanium sponge up 65 percent.

Last year, 皇冠体育applco became the controlling shareholder of Yunnan Copper Co in an effort to build itself into 皇冠体育app's leading copper maker. It also acquired 12 million tons of copper equivalent from Canadian copper explorer Peru Copper Inc.

The company plans to invest $1.2 billion in a joint venture in Saudi Arabia, which will have an annual output of one million tons of aluminium.