Chalco still interested in copper project of Turquoise Hill Reso: "Aluminum Corporation of China Limited is still open to buying into Mongolia's Oyu Tolgoi copper project from Turquoise Hill Resources Limited just 2 months after it backed out from the deal due to opposition from the Mongolian government.
Mr Liu Xiangmin senior VP of Chalco said that "If Rio Tinto and its shareholders think Chalco has added value for them, Chalco is still willing to be involved in the project. It's a mutual choice. We keep the option open.”
In April, Chinese state owned Chalco had offered to buy Mongolia focused Turquoise Hill's majority stake in SouthGobi Resources for USD 926 million in order to diversify into other commodities like coal.
Under the deal, Chalco planned to buy Turquoise Hill's 57.6% stake in SouthGobi Resources for USD 928 million and acquire as much as 60% of Turquoise Hill at CAD 8.48 per share or around CAD 533 million."
'via Blog this'
