Chinalco takes stake in Jiangsu rare earths project jv

Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm’s strategic development plan, a company spokesman said on Friday.

But Chinalco, which is China’s top aluminium producer and the parent of Hong Kong- and Shanghai-listed Chalco, has no immediate plans to inject the rare earth assets into the listed aluminium arm , Chinalco spokesman Yuan Li said.