Aluminum Corp. of China or Chalco's (HKG:2600, SHA:601600) unit Chalco Ningxia Energy Group agreed to form a joint venture with China Copper Tibet Mining and Tibet Development and Investment Group, a Thursday filing with the Hong Kong bourse said.
The three parties will contribute around 1.14 billion yuan, 2.67 billion yuan, and 953.4 million yuan to own a respective 23.9%, 56.1%, and 20% stake in the JV firm.
The JV company is proposed to be engaged in multiple business niches including power, energy, electrical and mechanical equipment, and technology.
China Copper Tibet Mining is a unit of Chinalco, which is a controlling shareholder of aluminum miner Chalco.
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