BEIJING, Jun 28, 2010 (Dow Jones Commodities News via Comtex) -- Aluminum Corp. of China, or Chinalco, will prioritize the development of its copper business, especially in the upstream segment of the industry like exploration of mines and potential deposits, according to the central government regulator that oversees China's largest alumina and primary aluminum producer.
The State-owned Assets Supervision and Administration Commission, in a statement dated Friday on its website, said Chinalco will also intensify efforts to develop much-needed national defense products in the downstream segment of the copper industry as part of the company's development plan for the next three years.
SASAC is the regulator that manages major state-controlled enterprises for the central government.
Chinalco owns stakes in Yunnan Copper Co., Shanghai Copper Co., Central China Copper Co., Luoyang Copper Co., Kunming Copper Co. and Peru Copper, which is under the evaluation of Peru's Mining Ministry.
Chinalco, the parent company of Aluminum Corp. of China Ltd. (601600.SH), or Chalco, is also the world's second largest alumina producer.
A spokesman for Chinalco wasn't available for comment.