The company’s operating income in 2010 was RMB200.3bn ($30.4bn), up 41% y-o-y.

It attributed the improvement in profitability to rising prices of metals products as well as the company’s efforts to cut costs. The company aims to reap about RMB210bn ($31.9bn) in operating income in 2011.

Chinalco’s alumina capacity increased by 29.6% in 2010 over 2009, its electrolytic aluminium capacity rose 22.2% and aluminium processing expanded 31.9%.

Chinalco’s development strategy for the next five to ten years includes developing a globally competitive aluminium/alumina conglomerate via an optimised industry chain. It will also give priority to its copper, coal and iron ore businesses.

Source China Metals email