On January 30, 2026, Aluminum Corporation of China Limited (Chalco), a listed subsidiary of Aluminum Corporation of China (Chinalco), announced its intention to acquire an equity stake in Brazilian aluminium producer Companhia Brasileira de Aluminio. The move aims to enhance resource security and optimize industrial layout, and will be executed through a prudent, market-oriented acquisition approach.

As the core holding enterprise under Chinalco, Chalco possesses a fully integrated industry chain. The company plans to establish a joint venture in Brazil with Rio Tinto International Holdings Limited through its wholly owned subsidiary, Chalco Hong Kong Limited. This joint venture will serve as the acquiring entity to purchase the 68.596% equity stake in Companhia Brasileira de Aluminio held by Votorantim S.A. Upon completion of the transaction, Companhia Brasileira de Aluminio will become a majority-owned subsidiary of Chalco and be consolidated into Chalco’s financial statements.

The transaction brings in Rio Tinto Group—a partner with extensive international mining experience—as a strategic collaborator. Rio Tinto is a leading global diversified mining group and one of the world’s largest suppliers of mineral resources and mining products. Chinalco and Rio Tinto have maintained a strong cooperative relationship for many years, achieving successful outcomes in multiple areas, including the Simandou iron ore project.

The target company, Companhia Brasileira de Aluminio, is one of Brazil’s oldest aluminum producers. It was listed on the B3 (Brazilian Stock Exchange) in 2021 and stands as the only fully integrated aluminum complex in Brazil, covering bauxite mining, alumina refining, primary aluminum smelting, aluminum fabrication, recycled aluminum, and power generation. In 2024, the company produced 720,000 metric tons of alumina and 364,500 metric tons of low-carbon aluminum. Its four recycling facilities—Alux, Aluminio, Metalex, and Itapissuma—processed 252,600 metric tons of aluminum scrap. The company demonstrates significant strengths in green and low-carbon operations, clean energy utilization, and ESG management. It owns a self-generation renewable energy portfolio of 1.6 gigawatts and operates entirely on 100% renewable electricity, achieving industry-leading cash costs.

This acquisition is expected to further strengthen Chalco’s capabilities in green development, ESG management, and international operations.