Chinalco Takes On Volatile Tibet

China’s largest mining company announced that it would step up operations in Tibet, home to numerous mineral resource deposits. From Forbes:

The country’s largest miner, Aluminum Corp. of China (nyse: ACH – news – people ), or Chinalco, is investing 250 million yuan ($36.5 million) to scout the region, the company’s Web site said. A newly established unit, China Aluminum Tibet Mining, will conduct exploration, metals smelting, and sales activities.

A controversial railway link between Beijing and Lhasa that was built in 2006 has opened up a cheap transportation route between Tibet and the rest of China, and the Ministry of Railways plans to expand Tibet’s rail network further.

The Yulong copper deposit in southeastern Tibet, China’s largest copper deposit, already has drawn domestic mining companies. Western Mining and Zijin Mining Group plan to begin digging in September. Chinalco currently operates a smelting plant in the Amdo region in eastern Tibet.


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