Chalco Says Vice President Li Dongguang Resigned, Facing Probe

Aluminum Corp. of China Ltd., the nation’s biggest producer, said Vice President Li Dongguang has resigned and is under investigation.

Li is being probed by “relevant departments” for “personal reasons,” the Beijing-based company, also known as Chalco, said today in a statement to the Shanghai stock exchange. Yuan Li, spokesman for Chalco’s parent Aluminum Corp. of China, said he doesn’t have any further information when contacted by phone.

Li, who was the president of Chalco’s international trading unit, didn’t answer a call to his mobile phone today. The incident won’t have an impact on the company and its production operations remain normal, Chalco said today in the statement.

Chalco shares declined 0.3 percent to 3.97 yuan in Shanghai today, before the announcement was made. They have dropped 23 percent this year.

To contact the reporter on this story: Michelle Yun in Hong Kong at myun11@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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