7 Apr 2011 09:32

Chalco to tap reserves in southern Laos

Shanghai. April 7. INTERFAX-CHINA - Aluminum Corp. of China Co. Ltd. (Chalco) is to acquire a stake in Laos-based Laos Services Inc. (LSI) in order to explore mineral resources in the south of the country, Chalco announced April 6.

Chalco will make the purchase through its wholly-owned subsidiary Chalco Hong Kong Co. Ltd., the announcement said.

No further details were released, and Chalco representatives declined to comment when contacted by Interfax.

According to the website of China's Ministry of Commerce (MOFCOM), Laos has mineral reserves of 17 million tons of gold ore, 182 million tons of copper ore, 1.6 million tons of tin ore, 125 million tons of bauxite, 14 million tons of iron ore, and 800,000 tons of both lead and zinc ore.

-XH