Asia Metal Net_China Aluminum and Standard Chartered Bank are Expected to Collaborate in Overseas Finance

On March 24, Lu Youqing, deputy general manager of Chinalco, met with Mr. Jake Williams, deputy director of risk management at Standard Chartered Bank. The two sides exchanged views on the current economic situation, overseas project financing and corporate debt risk management.

Lu Youqing said that Chinalco has been adversely affected by the international financial crisis and the downturn of the industry cycle in the past two years. Production and operations have encountered certain difficulties. Since 2008, Chinalco has taken various measures to reduce costs and increase profits. It began to make profits in August 2009 and is now out of its predicament. The company will continue to build an international multi-metal mining company's development strategy, strengthen risk management, seize new development opportunities, and seek common development with domestic and foreign partners.

Mr. Jake Williams said that Standard Chartered Bank is highly concerned about the Asia-Pacific region, especially the Chinese market, and is willing to provide support for Chinalco's debt risk management and overseas project financing in future cooperation. Standard Chartered Bank is very much looking forward to conducting deep-level and all-round cooperation with Chinalco.