MARKET TALK: Chalco May Ignore Queensland Bauxite Deal Report

10th Jun 2010 02:23

0123 GMT [Dow Jones] Chalco (2600.HK) may ignore Australian Financial Review report Thursday that it's back in talks with Rio Tinto (RIO.AU) to jointly expand Yarwun 2 refinery to process bauxite from Chalco's Aurukun project in Queensland state. Report essentially confirms what Chinalco official told Dow Jones yesterday, that Chalco still pursuing Queensland bauxite project, denying AFR's report Wednesday that Chalco set to put project on hold due to Australian government's proposed resource super-profits tax. Chalco ended yesterday down 0.5% at HK$6.04 on modest volume, recovers from intraday low of HK$5.94. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 09, 2010 21:23 ET (01:23 GMT)