Chalco to acquire Peru Copper for 792 million US dollars
Written by Administrator
Tuesday, 12 June 2007
BEIJING, June 12 (InfoChina) – Aluminum Corp of China (Chalco, ACH.NYSE, 2600.HK, 601600.SH), China’s biggest aluminum producer, will buy Peru Copper for 792 million US dollars (840 million Canadian dollars).
Peru Copper announced on June 11 that the Board of Directors reached consensus to accept Chalco’s purchase.
Each share costs some 6.6 Canadian dollars, 21 percent higher than the 20-day weighted average price of Peru Copper trading on the Toronto Stock Exchange on May 23.
Peru Copper buys and explores copper resources in Peru and is listed in Toronto and Lima. It owns the Toromocho copper project with an annual production capacity of 300,000 tons of refined copper. It is expected to become one of the biggest copper mines of Peru before 2010.
Chalco regards the deal as an important step forwarding its overseas development strategy. (Edited by Li Xueqing,
)
China Stock News 
