Reuters reported that Aluminum Corporation of China, the country's top aluminum producer, is looking to list its Peruvian copper mining assets in Hong Kong in a deal that could raise up to USD 1 billion.

IFR said that the IPO is expected to hit the market in the H1 of 2012 and would test investor appetite for early stage mining assets that will only turn profitable in 2014.

BNP Paribas, CICC and Morgan Stanley have been mandated by Chinalco to arrange the transaction.

The new listed unit's main asset is the Toromocho copper mine in Peru that is on track to start mining in 2013. The mine is forecast to produce the equivalent of 250,000 tonnes of fine copper a year and also small amounts of silver and molybdenum.

(Sourced from Reuters0