Chalco (ACH), the world's second-largest aluminum producer, pulls out of a A$3B ($2.4B) deal to...

|By:, SA News Editor

Chalco (ACH), the world's second-largest aluminum producer, pulls out of a A$3B ($2.4B) deal to develop a bauxite refinery in Australia, blaming difficult global conditions and a drop in aluminum prices; aluminum, which went for $3,000/ton when the project was approved two years ago, now trades below $2,000/ton.