It is reported that state owned Assets Supervision and Administration Commission of the State Council approves Chinalco application to adjust its main pursuits recently. From then on, the company will expand business in iron ore filed abreast with non-ferrous industry.

Chinalco has long planned to make its foray into iron ore business. After being the single largest shareholder of Anglo-Australian miner Rio Tinto, it inked another agreement with Rio to jointly develop a rich iron ore deposit in Guinea this March.

(Sourced from MySteel.net)
Visit www.Mysteel.net for real time access to China steel news!