China's Chinalco names Ansteel boss as its new chairman


Ansteel Chairman Yao Lin replaces Ge Honglin at Chinalco

Ge Honglin to move to China metals industry assoc -sources

Adds details, background

BEIJING, Oct 24 (Reuters) - Aluminum Corp of China ALUMI.UL, known as Chinalco, said that Yao Lin, the chairman of Ansteel Group Co Ltd, would leave his role and become Chinalco's new chairman, replacing Ge Honglin.

The announcement was made at a Thursday meeting attended by management from Chinalco, China's biggest state-owned aluminium producer, according to a statement on the company's website.

Chinalco is trying to overtake private-sector rival China Hongqiao Group 1378.HK by raising its smelting capacity to 8 million tonnes a year through new projects, which would make it the world's biggest aluminium producer.

The timing of Yao's replacement of Ge is unclear. Asked if Yao had already taken up his new role, a Chinalco spokesman said by text message: "It has already been announced."

Yao has been with Ansteel for more than 20 years, according to state media reports. He has been chairman of the group since August 2018, a statement from China's State-Owned Assets Supervision and Administration Commission (SASAC) showed.

Ansteel, which is based in Northeast China's Liaoning province, declined to comment.

Ge, Chinalco chairman since October 2014, will become chairman of the China Nonferrous Metals Industry Association (CNIA), replacing retiring Chairman Chen Quanxun, two sources with knowledge of the matter said.

The association declined to comment on Thursday.

Ge, a former mayor of Chengdu, will end his five-year stint as Chinalco chairman having narrowed the capacity gap with Hongqiao by taking over regional smelter Yunnan Aluminium 000807.SZ in 2018.

(Reporting by Tom Daly and Zhang Min; Editing by Christian Schmollinger and Tom Hogue)

((; +86 10 5669 2119;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.