China Daily: Chalco makes 2nd attempt to acquire Mongolian coal

For the second time this month, China’s largest producer of aluminum, the Aluminum Corp of China Ltd, or Chalco, announced that it plans to acquire a share of Mongolian coal resources in an attempt to diversify its business. The company said on Tuesday it will pay $308 million to acquire 29 percent of Winsway Coking Coal Holdings Ltd, which owns Mongolian coal resources. The top aluminum manufacturer will be paying HK$2.12 ($0.27) per share for Winsway, a 13 percent premium to the company’s closing price of HK$1.88 ($0.24) on the Hong Kong Stock Exchange on Tuesday. To read the full article, click hereChalco makes 2nd attempt to acquire Mongolian coal

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