26 February
BEIJING,
Press release

It was announced today that Mr. Xiong Weiping is to replace Mr. Xiao Yaqing as President and Secretary-General of the Executive Committee of Chinalco.

Mr. Xiao Yaqing and Mr. Xiong Weiping both welcomed the decision and said they would ensure a smooth handover.

Mr. Xiao Yaqing said that the five years since he became President and Secretary-General of the Executive Committee in 2004 had been very successful for the company. Under the leadership of the Executive Committee, Chinalco had made significant progress. He thanked the management team for their support and was sure that they would be fully supportive of Mr. Xiong Weiping. He expected Mr Xiong Weiping to continue Chinalco’s strategy and to maximise development opportunities, control costs and continue the Company’s focus on production, safety and a sustainable globalisation strategy.

Mr. Xiong Weiping said he was very pleased to be re-joining Chinalco. During this time Chinalco had developed rapidly and significantly under the leadership of Mr. Xiao Yaqing. The Company has focused on establishing itself as a leading diversified global natural resources conglomerate with a diversified product mix, global footprint and advanced technology. Chinalco already has a solid foundation for its
future long-term development.

Mr Xiong Weiping emphasised that although Chinalco is operating in a challenging environment with the world financial crisis, he together with the Chinalco management team, its employees and the leadership of the Executive Committee, would seize opportunities, tackle challenges, follow best practice in corporate and social responsibility, and meet shareholders' and employees' expectations.

The 52-year-old Mr Xiong has recently been running the Hong Kong-listed arm of the state owned mainland travel service, China Travel International Investment HK.

He restructured the struggling business after arriving in 2006. Mr Xiong’s main background is in mining. He joined Chinalco in 2000 and was a Vice President between 2004 and 2006. He was involved in running the copper, lead and zinc businesses.

He obtained a PhD in mining engineering from Central South Industrial University in China and is a Dean of its management faculty.