Beijing probes Chalco exec

Li Dongguang, the vice president of Aluminum Corp of China (Chalco; ACH.NYSE) is being investigated “by relevant authorities for personal reasons,” South China Morning Post reported, citing a statement by Chalco. “The investigation has no relation whatsoever to the company,” Chalco added, saying Li had tendered resignation from his post and that the resignation had no noticeable impact on its production. The probe has become the latest in a series of investiations targeted at high-level executives at central government-administered enterprises. Li was also general manager of Chalco Aluminum International Trading and oversaw a deal between the aluminum giant and Mongolia’s state-owned coking coal miner Erdenes Tavan Tolgoi.