Chalco to Sell Stake in Iron Ore Venture to Parent
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Aluminum Corporation of China Ltd., the Hong Kong-listed unit of the nation’s largest producer of the metal, plans to sell its stake in a venture in Guinea to a unit of its parent for about $2.07 billion.
The state-owned company, known as Chalco, announced on Sept. 30 the sale to its parent of a 65 percent stake in a venture that mainly invests in the Simandou iron-ore project. The value of the stake was not disclosed at the time.