Minmetals to list aluminum business in HK

State-owned China Minmetals Corp, one of the nation's largest metals groups, will list part of its aluminum business on the Hong Kong Stock Exchange, its first aluminum listing, state media reported, quoting analysts. Oriental Metals Holdings, a Hong Kong-based firm in which Minmetals holds controlling shares, will buy the aluminum business, worth about US$370m. The exchange approved the share issuance application last week and shareholders of Oriental Metals Holdings will vote later this month. The listing will make it easier for Minmetals to implement international mergers and acquisitions. China is the world's largest aluminum producer but about half of its demand for alumina, or oxide aluminum currently comes from abroad.