Minmetals plans $ 115 mln stake in alumina producer

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HONG KONG, Nov 6 (Reuters) Non-ferrous metal trader Minmetals Resources Ltd <1208.HK> said it planned to buy a 33 percent stake in Guangxi Huayin Aluminium Co Ltd for about 856 million yuan (US4.8 million).

Minmetals said in a statement late on Monday that it would buy the stake from its controlling shareholder, China Minmetals Non-ferrous Metals Co Ltd, and the deal would be funded through internal resources.

Alumina producer Guangxi Huayin, which has a planned production capacity of 1.6 million tonnes of alumina, will develop bauxite resources in the Guangxi region, Minmetals said.


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