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Mineweb.com - The world's premier mining and mining investment website Alcoa, China Pow... - 0 views

www.mineweb.com/...page504

joint venture chinese ALCOA YADKIN aluminum CleanTech sign power china

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  • Spending under the agreement could reach more than $7.5 billion, the companies said in a release on Tuesday, although they declined to list any specific projects. A spokesman for Alcoa said the agreement was for a "long-range cooperation to look at a range of projects," but did not list any specific plans. CPI is one of five major power generators in China, owning about 70 gigawatts of power generation, and is China's second largest aluminum producer.
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Alcoa's Chinese JV Targets Need for High Quality Aluminum in Booming Market -- Trefis - 0 views

www.trefis.com/...2011-09-16

chinese ALCOA YADKIN aluminum CleanTech CHINA joint venture

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  • 1 of 12 Alcoa’s Aluminium Supply Deal with Embraer Could be First of Many 2 of 12 Alcoa Sambas to $16 with Embraer Deal for Jet Development 3 of 12 Alcoa: Revised $16 Price Estimate, Long-Term Outlook Still Solid 4 of 12 Alcoa Restructuring Midstream Business for Emerging Market Growth 5 of 12 Demand for Lightweight Autos Boost Alcoa’s Aluminum Business 6 of 12 Alcoa Aims for $18 by Investing in ‘Green’ Initiatives 7 of 12 Aluminum Demand, New Products Lift Alcoa’s Earnings 8 of 12 Alcoa’s JV in Saudi Arabia Gets Funding 9 of 12 Alcoa Could Get Boost from New Alloys 10 of 12 Alcoa Gains from Fuel Efficiency Focus at Paris Air Show 11 of 12 Alcoa Shines on Solid Aluminum Demand 12 of 12 Alcoa’s Growth Estimates for Aluminum Justify Additional Upside Relevant Articles on TREFIS Alcoa’s Chinese JV Targets Need for High Quality Aluminum in Booming Market September 16th, 2011 by Trefis Team +93.03% Upside 8.53 Market 16.47 Trefis pricesBarBlock artMa
  • The JV will focus on the technical expertise of both the companies to leverage this growing market. Further official information on the joint venture is awaited.
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Alcoa-China Power Ink Pact - Zacks.com - 0 views

www.zacks.com/...Alcoa-China+Power+Ink+Pact

ALCOA chinese joint venture YADKIN Correnti CleanTech CHINA

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  • The terms of the joint venture were not disclosed.
  • In January, both the companies signed a memorandum of understanding (MoU) in Washington when the Chinese president Hu Jintao paid a state visit to the U.S.
  • The two will work together in overseas and domestic projects.
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Alcoa, China Power Agree to Work on $7.5 Billion of Clean Energy Projects - Bloomberg - 0 views

www.bloomberg.com/...th-china-power-investment.html

ALCOA chinese hydro Correnti CleanTech

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  • Alcoa and China Power haven’t yet decided on specific projects and the exact amount they will spend will depend on the ventures they choose, Mike Belwood, a spokesman for Alcoa, said by telephone.
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Alcoa, China Power Agree to Work on $7.5 Billion of Clean Energy Projects- Bloomberg - 0 views

mobile.bloomberg.com/...nt-with-china-power-investment

ALCOA chinese armory ms Correnti CleanTech Commissioners hydro YADKIN CHINA

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  • The companies may also look at opportunities to collaborate outside China
    • Yadkin River
      Yadkin River on 20 Dec 11
       
      Outside of China - Like in NC?
  • China, the world’s largest polluter, wants non-fossil fuels to contribute 15 percent of its energy needs by 2020. The nation’s incentives to encourage low-carbon generation such as solar and wind power are almost triple those in the U.S., according to a report by the Climate Institute
  • “It’s very difficult for China to buy state of the art technology from the U.S., as there are many restrictions, but clean energy is an area where both U.S. and China love to cooperate,” said Owen Liang, a Shenzhen-based analyst with Guotai Junan Securities Co. “The question is why Alcoa?
  • ...1 more annotation...
  • Alcoa
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Alcoa, China Power Investment outline joint venture - Pittsburgh Business Times - 0 views

www.bizjournals.com/...nd-china-power-investment.html

shared by Yadkin River on 20 Dec 11 - No Cached
  • Aluminum maker Alcoa    Alcoa Latest from The Business Journals Clean Tech deal in Badin canceledSouthwest Airlines to launch Boeing 737 MAXAfter markets' tough day, a possible rebound Follow this company (NYSE: AA) and the China Power Investment Corp. signed a letter of intent outlining the framework for a joint venture between the two companies
    • Yadkin River
      Yadkin River on 20 Dec 11
       
      This is the followup from the Jan 2011 executed MOU in Washington DC
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Alcoa Fights Back: Further Developments in M&A - Mining Technology - 0 views

www.mining-technology.com/...feature1875

CHINA YADKIN ALCOA GOINGOUT RIO

shared by Yadkin River on 19 Dec 11 - No Cached
  • They reproduced a letter from one such hedge fund, Jana Holdings, which read: "Given Alcoa's long history of failing to generate shareholder value through acquisitions, we believe that its greatest value can be realised through a sale or break-up of the company." "Marketplace valuations on reserves and resources are ridiculously cheap across the mining commodity spectrum," says Renken. "Hence the pressure on Alcoa's board to 'make things happen' corporately to get a better valuation on their own shares."
    • Yadkin River
      Yadkin River on 19 Dec 11
       
      DID THE CHINESE SAVE ALCOA ?
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Alcoa Gets Deeper Into China With New Joint Venture - Forbes - 0 views

www.forbes.com/...o-china-with-new-joint-venture

ALCOA CHINA GOINGOUT GOOUT YADKIN

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  • Alcoa Gets Deeper Into China With New Joint Venture
  • he JV will focus on the technical expertise of both the companies to leverage this growing market.
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Alcoa and Chinese Rival Buy 12% Stake in Rio Tinto - New York Times - 0 views

www.nytimes.com/...02mines.html

chinese ALCOA YADKIN GOINGOUT

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  • SHANGHAI — The state-owned giant Aluminum Corporation of China and the Aluminum Corporation of America stunned analysts and investors Friday by buying a minority stake in Rio Tinto, the world’s third largest mining company.
  • “The Chinese are probably the best capitalists that communism will ever have given birth to,” said Michelle Applebaum, head of an independent steel equity research firm in Chicago.
  • Last year, China’s state-controlled sovereign wealth fund — another increasingly visible and controversial measure of the new wealth of the nation — invested in the private equity firm Blackstone. Later, it paid about $5 billion to buy a small stake in Morgan Stanley.
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  • Now, China appears to be making another bold play to capture the natural resources it needs to fuel its fast-growing economy.
  • Most of the $14 billion came from Chinalco, which is ultimately controlled by the government in Beijing. Alcoa, which is based in Pittsburgh, contributed only about $1.2 billion to purchase the Rio stake.
  • "We believe that the Chinese recognize that control will likely be elusive — if not impossible — and that ownership of its raw material resources is key to the future.”
  • The statement, analysts say, was a hint that the two could team up with other companies or entities, possibly from China, to bid for all of Rio and wage a tough takeover battle with BHP, driving up the price of Rio shares.
  • partly because of suspicions that the Chinese government could be behind the deal.
  • Neither Chinalco nor Alcoa have the cash or stock to make a $150 billion bid, analysts say. Shares of Alcoa are worth about $30 billion and Chinalco shares in China are worth about $50 billion.
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Example of Chinese Investments - Chinese Investors - 0 views

www.chineseinvestors.co.uk/examples_investments.php

ALCOA Chinalco YADKIN

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  • China is undeniably a global economic powerhouse. While the global financial crisis was a catastrophe for most economies, it was more an opportunity than a challenge for China. United States is keen to allow Chinese investment into small and medium US banks. America now realises that for its economy to come out of the crisis fully, foreign investment is badly required. Meanwhile, China with its $2-trillion foreign currency assets is on the prowl.
  • n February 2008, Aluminum Corp of China (Chinalco) joined hands with Alcoa Inc to buy a 12 per cent holding in UK-listed Rio Tinto for $14 billion, just days before mining rival BHP Billiton (the Australian mining giant) was to make a formal offer for Rio Tinto.
  • enovo Group, acquired the controlling stake in IBM's PC business. The $1.25 billion deal saw Lenovo jump to the third spot amongst the world's largest PC makers.
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Waiting for the floodgates to open - 0 views

www.smh.com.au/...es-to-open-20110909-1k1uc.html

china going out alcoa foreign investment

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  • Each working day the People's Bank of China buys more than $US2 billion ($1.88 billion) worth of foreign currency from Chinese businesses and invests it overseas. China's outbound direct investment - the portion that matters to Australian takeover targets - has increased 30-fold in seven years. ''We've had something like 260 projects approved since November '07, $65 billion worth,'' says Frances Adamson, Australia's new ambassador in Beijing.
  • ''If China follows the typical pattern of an emerging economy, it will ship $US1 trillion to $US2 trillion in direct investment abroad by 2020.''
  • hina's "go out" investment strategy became policy in 1999 and began to get noticed around the world about 2007 when China's foreign exchange reserves began to break records. But the strategy was really conceived in the 1970s and born in the 1980s in collaboration with Australia.
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Alcoa: News: News Releases: Alcoa Inc. and Aluminum Corporation of China ("Chinalco") t... - 0 views

www.alcoa.com/...news_detail.asp

alcoa yadkin chinaalco financing

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  • Chinalco and Alcoa jointly announced today that the two companies intend to explore opportunities to expand their commercial relationship by identifying strategic ventures that will benefit from the companies’
  • n connection with these matters, Alcoa and Chinalco have also entered into an agreement by which Chinalco will redeem the convertible note issued by Shining Prospect Pte. Ltd., a wholly-owned subsidiary of Chinalco, to Alcoa last year for the funding of Shining Prospect’s purchase of ordinary shares in the London-listed Rio Tinto plc. The original principal amount of the note would have been payable on February 1, 2011. Under the terms of the agreement entered into today, the note will be redeemed by Chinalco for a total of US$1.021 billion payable to Alcoa in three installments (over a period ending on July 31, 2009), and Alcoa’s lien on and indirect interest in Rio Tinto shares held by Shining Prospect will end. The total redemption amount represents the discounted net present value of the principal amount of the note (and the total redemption amount will be further discounted if any installment payment is made earlier than contemplated by the agreement). The agreement also provides that Alcoa's pro rata portion of the dividends paid by Rio Tinto to date since the issuance of the note as and when recovered by Shining Prospect will be paid to Alcoa.
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CHALCO - 0 views

www.chalco.com.cn/...chalco_en_view.jsp

china Chinalco aloca takeover energy yadkin

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  •  In recent years, the "go-out" process of central government-owned enterprises has been accelerated, and CHINALCO has been a star in the "go-out" drama of the central government-owned enterprises. Following is an interview with CHINALCO Party Secretary and President Xiong Weiping ——
  • This marks another major step forward for CHINALCO down the road of developing resources overseas.
  • We tried to get aligned to the leading international companies, and also approached the best private companies in China to learn from them. We reformed our management system and management structure. We changed our practices in selecting leaders
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  • After two years of all-round and in-depth structural adjustment, the single line of aluminum business in the past was expanded into nine lines of business including aluminum, copper, rare metals & rare earth, resource exploration, international engineering, international trade, energy, finance, and overseas investment, and we already had the structure of a diversified mining company.
  • Xiong Weiping: Yes. During the first year of the "12th Five-Year Plan" period, we have set a strategic goal of "becoming a world-class mining company with the biggest growth potential".
  • To become a world-class mining company, we need to create another CHINALCO in the next 10 years. Obviously, it would be very hard to realize this goal within China's territory, and we must go out and participate in global competition and collaboration.
  • The ups and downs in the collaboration can also be positive and meaningful. CHINALCO has established its status in negotiation and cooperation with major western mining companies, and has obtained certain participation right and a bigger say.
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The Jamestown Foundation: China Makes Strides in Energy "Go-out" Strategy - 0 views

www.jamestown.org/...single

china goabroad GOINGOUT yadkin Alcoa

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  • Yet this new strategy is taking the shape of a formula of “loans-for-energy,” which involves a mix of state-owned and private actors.
  • hese complex arrangements indicate that China’s expansion of overseas-energy assets is a long term goal and that it is increasingly interested in securing Chinese outward investments from its international partners.
  • Put more of China’s $2 trillion foreign reserves into hard assets -- Zhang Guobao, vice minister of the National Development and Reform Commission and head of the NEA, had pointed out in a signed article published in December 2008 in the People’s Daily (a strong indication of being authoritative statements of government policy) that China should seize the timing of the oil price slump on the  international market to increase imports and Chinese enterprises are encouraged by the government to expand overseas (China Daily, March 9).
  • ...5 more annotations...
  • his model is more in line with the Chinese government’s preference for financing acquisitions, since it gives Chinese NOCs direct ownership of resources. In contrast to the other three deals, Chinese NOCs could only extend loans to foreign NOCs for guaranteed oil supplies or possible special access to future exploration projects.
  • China’s new venture with Kazakhstan deviates from the “oil-for-loans” formula. The $5 billion loan from CNPC will give Chinese oil firms a 50 percent stake in the joint purchase of MangistauMunaiGaz (MMG), Kazakhstan’s biggest private oil and gas company (Reuters, April 17). This deal is more like a “loan-for-oil assets” transaction than one of “loan-for-promised-oil supply," which characterizes the previous three contracts, and CNPC will receive half of the oil that will be produced by the jointly owned MMG (the other 50 percent will be owned by the Kazak state-owned firm KazMunaiGas).
  • he global economic crisis has presented China with a rare opportunity to trade its abundant foreign currency reserves for oil, mineral and other resources around the world. China now has roughly $2 trillion in foreign exchange, ranking number one in the world, and many state firms are also flush with funds (The Associated Press, February 18). Beijing is considering setting up an oil stabilization fund to support purchases of overseas resources by Chinese oil companies. The plan was submitted at NEA’s National Work Conference on Energy held in March 2009 (Xinhua News Agency, March 2).
  • The recent large energy activities are not the first time Chinese NOCs have entered “loans-for-oil” deals. In 2004, Chinese banks financed Rosneft’s acquisition of Yuganskneftegaz with a $6 billion loan and CNPC received a pledge of long-term supply contracts via rail in exchange (Platts Community News, February 19)
  • These “loans-for-oil” activities will remain an active component of the Chinese overseas resource acquisition strategy given the current global economic and energy conditions.
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