China Aluminum International Plans Guinea Contract, Unit Stake Transfer, and Share Cancellation

China Aluminum International Engineering (HKG:2068, SHA:601068) plans to undertake a 6.6 billion yuan EPC contract for an alumina project in Guinea.

The company has also agreed to transfer a 60% stake in a subsidiary for 100.1 million yuan and plans to repurchase and cancel 323,400 restricted shares granted to six participants under its share incentive scheme, according to separate Friday bourse filings.

The proposed fixed-price contract covers engineering, procurement and construction services for the project in the Boffa region, with Chalco Guinea, a subsidiary of controlling shareholder Chinalco, as the employer.

The contract remains unsigned and requires independent shareholder approval.

Separately, the transfer of Zhengzhou Jiuye Sanwei Chemical Machinery to fellow subsidiary Shenyang Aluminum & Magnesium Engineering & Research Institute will reduce China Aluminum International's effective shareholding in the unit by 7.8%.

Jiuye Sanwei will remain an indirect non-wholly owned subsidiary.

The company will also spend an estimated 794,000 yuan of its own funds to repurchase the restricted shares, which represent 0.0108% of its total share capital.

The cancellation will reduce its total shares by 323,400, with no material impact on its financial condition or operating results.