BEIJING, Apr 26, 2010 (Dow Jones Commodities News via Comtex) -- Aluminum Corp. of China, also known as Chinalco, and Jiangxi Rare Earth & Rare Metals Tungsten Group Holding Co. have set up a joint venture to produce 40,000 metric tons of nickel and cobalt annually, Chinalco said in a statement on its Web site late Monday.
Chinalco controls 51% of the joint venture, called Jiangxi Tungsten Nickel and Cobalt New Materials Co.
The joint venture was set up with an investment of CNY1.8 billion, and there are plans to expand its output to 100,000 tons a year.
The project would produce nickel-cobalt powder, electrolytic nickel plate and other related products.
Chinalco is China's largest alumina and primary aluminum producer, and the world's second largest alumina producer.
