1934 ACT FILE NO. 001-15264

         [Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.]

         [Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]

         [If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-              ]

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date  October 27, 2008       

By                 /s/    Liu Qiang                     
Name: Liu Qiang
Title: Company Secretary

Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement.

Aluminum Corporation of China Limited*
(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2600)

1

IMPORTANT NOTICE

1.1

The board of directors (the "Board"), the supervisory committee, the directors, supervisors and senior management of Aluminum Corporation of China Limited (the "Company") confirm that this report does not contain any false representation, misleading information or material omission. All of them jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the contents of this report.

1.2

The written resolutions in relation to the approval of the unaudited results of the Company and its subsidiaries (prepared in accordance with PRC GAAP) for the third quarterly period ended 30 September 2008 were duly adopted by the Board on 24 October 2008.

1.3

The financial report of the Company in this third quarter report has not been audited.

1.4

Mr. Xiao Yaqing, Chairman and Chief Executive Officer of the Company; Mr. Chen Jihua, Chief Financial Officer; and Mr. Ou Xiaowu, Head of the Accounting Department warrant the truthfulness and completeness of the financial statements in this quarterly report.

2

COMPANY PROFILE

2.1

Principal financial data and indicators

Currency: RMB

Changes from

The end of

The end of

the end of

reporting period

last year

last year

(%)

Total assets (RMB)

127,854,817,738.46

105,496,183,860.31

21.194

Owners' equity

   (or Shareholders' equity) (RMB)

58,231,945,325.45

60,576,990,872.82

-3.871

Net assets attributable to shareholders

   of the Company per share (RMB)

4.31

4.48

-3.795

From the beginning of

year to the end of

Changes from

reporting period

the corresponding

(January to September)

period last year

(%)

Net cash flow from operating activities (RMB)

847,192,372.61

-90.733

Net cash flow from operating activities per share (RMB)

0.0626

-91.504

From the

beginning of year

to the end of

reporting period

Changes from

The reporting period

(January to

the corresponding

(July to September)

September)

period last year

(%)

Net profit attributable to shareholders

   of the Company (RMB)

182,896,608.45

2,583,643,429.55

-92.03

Basic earnings per share (RMB)

0.014

0.191

-92.693

Basic earnings per share after

   extraordinary items (RMB)

-

0.200

-

Diluted earnings per share (RMB)

0.014

0.191

-92.693

Return on net assets (fully diluted) (%)

0.314

4.437

Decreased

by 91.569

percentage

points

Decreased

by 93.138

Return on net assets after

percentage

   extraordinary items (fully diluted) (%)

0.258

4.644

points

From the beginning

of year to the end of

reporting period

(January to September)

Deduction: Charged to

Extraordinary items

allocated item

(RMB)

Profit and loss from disposal of non-current assets

-36,391,395.58

Government subsidies included in the profit and

   loss of the period, but excluding government

   subsidies closely related to the business of

   the Company and are of fixed amount or

   fixed sum in accordance with the

   State's unified standards

30,202,085.02

Profit and loss from entrusted investment

2,470,702.5

Net profit and loss in the period of subsidiaries arising

   from the merger of enterprises

   under the same control from

   the beginning of the period to merger date

35,272,000.00

Net non-operating income/expenses

   other than above items

-216,315,588.78

Other extraordinary items

38,181,611.89

Total

-146,580,584.95

Review on Operation Results

The Company's total revenue for the third quarter amounted to RMB19.08 billion, representing a decrease of 7.9% as compared to the corresponding period last year. Net profit was RMB183 million, representing a decrease of 92.9% as compared to the corresponding period last year. Earnings per share in the third quarter were RMB0.014.

The total revenue of the Company from January to September was RMB58.69 billion, representing a decrease of 7.4% as compared to the corresponding period last year. Net profit was RMB2.584 billion, representing a decrease of 72.1% as compared to the corresponding period last year. Earnings per share for the nine months ended 30 September 2008 were RMB0.191.

In the third quarter, the production and operation of the Company remained stable and the production volume of major products saw a steady growth. The production volume of alumina of the Company for the third quarter amounted to 2.54 million tonnes, representing an increase of 5.8% as compared to the corresponding period last year while the production volume of alumina chemicals reached 0.28 million tonnes, representing an increase of 7.7% as compared to the corresponding period last year. The production volume of primary aluminum products amounted to 0.90 million tonnes, representing an increase of 25% as compared to the corresponding period last year.

The Company proactively reduced consumption, boosted energy saving and emissions reduction whilst optimizing technological indicators. The Company had maintained the safety of its production processes and sound environmental protection. The Company also strengthened management of its facilities, resulting in a gradual decrease in the frequency of breakdown and overhaul.

2.2

Number of shareholders and the top ten shareholders not subject to trading moratorium as at the end of the reporting period

Total number of shareholders

   as at the end of reporting period

728,831

Particulars of the top ten shareholders of tradable shares not subject to trading moratorium

Unit: Share

Number of

tradable shares not

subject to trading

moratorium held

as at the end of

Name of shareholders (in full)

reporting period

Class of share

HKSCC NOMINEES LIMITED

3,936,565,827

Overseas listed

foreign shares

China Cinda Assets

900,559,074

RMB denominated

   Management Corporation

ordinary shares

China Construction Bank Corporation

709,773,136

RMB denominated

ordinary shares

China Development Bank

554,940,780

RMB denominated

ordinary shares

Guangxi Investment Group Co., Ltd.

195,040,000

RMB denominated

ordinary shares

Guizhou Provincial Materials Development

79,200,000

RMB denominated

   and Investment Corporation

ordinary shares

Industrial and Commercial Bank of China

29,037,781

RMB denominated

   - Shanghai 50 ETF Securities Investment Fund

ordinary shares

International Finance - Standard Chartered

27,934,551

RMB denominated

   - CITIGROUP GLOBAL MARKETS LIMITED

ordinary shares

Bank of China - Harvest Shanghai Shenzhen 300

13,937,936

RMB denominated

   Index Securities Investment Fund

ordinary shares

China Construction Bank - Bosera Yufu Securities

7,376,905

RMB denominated

   Investment Fund

ordinary shares

3

SIGNIFICANT EVENTS

3.1

Material changes in major accounting items and financial indicators and the reasons therefor

Ö Applicable

Not Applicable

The Company's results for the third quarter of 2008 were affected by the hiking prices of raw materials, energy and fuels which resulted in a substantial increase in the production costs of the Company as compared to the corresponding period last year. In addition, the global economic environment impacted the selling prices of the Company's major products, which dropped more significantly as compared to the corresponding period last year and led to a reduction in the Company's profit.

The increase in accounts receivables was mainly attributable to the cross month settlement of the accounts receivables of primary aluminum and the accounts receivables of aluminum fabricated products.

The increase in inventories was mainly attributable to the increase in inventories of finished products as well as the increase in the reserves of raw materials and fuels such as ores and coal.

The increase in interest-bearing liabilities such as short-term borrowings, long-term borrowings and debentures payable was mainly attributable to the need to supplement working capital of the Company.

The increase in dividends payable was mainly attributable to the distribution of interim dividends by the Company, which is subject to the approval of the general meeting to be held.

The increase in financial expenses was mainly attributable to the increase in interest-bearing liabilities of the Company.

The increase in non-operating income was mainly attributable to the increase in income arising from insurance claims. The increase in non-operating expense was mainly attributable to the increase in losses resulting from the suspension of production in certain subsidiaries of the Company due to energy shortages.

3.2

Significant events and their effect and analysis on solutions

Applicable

Ö Not Applicable

3.3

Implementation of undertakings by the Company, its shareholders and de facto controller

Ö Applicable

Not Applicable

The Company's undertakings:

(1)

To acquire the primary aluminum business of Liancheng Alumium by the end of 2007; to solve the problem of competition with Tongchuan Xinguang within one year following the listing of the Company's A Shares; to merge the primary aluminium business of Baotou Aluminum as and when appropriate following the issue of the Company's A shares.

(2)

To complete the registration of change of the Company with the Industrial and Commercial Administration within 6 months following the issue of the Company's A shares.

(3)

To complete title change procedures for the assets of Shandong Aluminum and Lanzhou Aluminum within 12 months after listing of the securities of the Company on the Shanghai Stock Exchange.

(4)

To complete the registration of change with the Industrial and Commercial Administration within six months following the share exchange merger with Baotou Aluminum Co., Ltd. and to establish it as a new wholly-owned subsidiary after the merger.

As at the end of 2007, the Company had completed the merger with Baotou Aluminum Co., Ltd., a listed company engaged in primary aluminum business and a subsidiary of the Company's controlling shareholder. As a result, it became a wholly-owned subsidiary of the Company.

As at the end of May 2008, the Company had completed the acquisition of Liancheng Aluminum Co., Ltd., a subsidiary of the Company's controlling shareholder engaged in primary aluminum business, and five aluminum fabrication enterprises of the Company's controlling shareholder.

As for those minor competing assets which are not appropriate to be immediately dealt with by the controlling shareholder due to certain title issues, the Company has started negotiations with the controlling shareholder regarding competition among such businesses with a view to resolving such competitions.

3.4

Warning on any potential loss in accumulated net profit from the beginning of the year to the end of next reporting period or any material change from the corresponding period last year and the reason therefor

Applicable

Ö Not Applicable

3.5

Securities Investment

Ö Applicable

Not Applicable

Unit: RMB

Shares held

Book value

Book value

as at

Initial

as at

as at

30 September

investment

30 September

1 July

No.

Stock Code

Name

2008

amount

2008

2008

Ledger

(shares)

1

601601

China Pacific Insurance

300,000

348,000

4,962,000

5,775,000

Available-for-sale

financial assets

Total

-

348,000

4,962,000

5,775,000

-

Zunyi Aluminum Co., Ltd., a subsidiary of the Company, acquired 300,000 shares in China Pacific Insurance (Group) Co., Ltd. ("China Pacific Insurance") in 1995. These shares are subject to a trading moratorium of one year commencing from the listing of China Pacific Insurance on the Shanghai Stock Exchange on 25 December 2007.

Aluminum Corporation of China Limited

Legal representative: Xiao Yaqing

24 October 2008

4

APPENDICES

4.1

Consolidated Balance Sheet

As at 30 September 2008

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

Closing balance

Opening balance

at the end

in the beginning

of the period

of the year

Current assets:

Cash and bank balance

10,570,381,218.47

8,937,958,343.76

Balances with clearing companies

Placements with banks and

   other financial institutions

Held for trading financial assets

95,563,200.00

8,102,600.00

Bills receivable

1,176,593,915.84

2,534,547,984.84

Accounts receivable

2,303,706,199.97

1,169,727,834.48

Prepayments

2,871,052,781.94

1,476,966,633.07

Premiums receivable

Receivables from reinsurers

Deposits receivable from

   reinsurance agreements

Interest receivable

Dividend receivable

Other receivable

677,644,956.92

402,958,954.58

Purchases of resold financial assets

Inventories

22,661,687,298.05

15,338,238,019.63

Non-current assets due within one year

17,922,491.23

66,646,759.83

Other current assets

510,436,135.74

161,391,098.64

Total current assets

40,884,988,198.16

30,096,538,228.83

Non-current assets:

Loans and advances granted

Financial assets available for sale

31,097,597.02

40,112,597.02

Held-to-maturity investments

Long-term receivables

Long-term equity investments

1,380,327,836.73

1,190,216,870.54

Investment properties

107,365,530.11

109,201,173.18

Fixed assets

61,654,439,722.35

56,072,129,971.60

Construction in progress

18,525,634,258.61

12,741,577,100.86

Construction materials

326,974,842.62

293,917,305.59

Disposals of fixed assets

31,731,569.61

Biological assets for production

Fuel assets

Intangible assets

1,882,320,286.09

1,725,280,101.58

Development expenses

Goodwill

2,330,945,875.24

2,330,945,875.85

Long-term deferred expenditures

188,372,943.21

108,829,419.56

Deferred income tax assets

510,619,078.71

555,435,215.70

Other non-current assets

232,000,000.00

Total non-current assets

86,969,829,540.30

75,399,645,631.48

Total assets

127,854,817,738.46

105,496,183,860.31

Current liabilities:

Short-term borrowings

12,783,403,614.90

5,788,055,182.48

Borrowings from central bank

Deposit taking and deposit in

   inter-bank market

Placements from banks and other

   financial institutions

Held-for-trading financial liabilities

1,619,561.00

Notes payable

251,010,000.00

391,060,000.00

Accounts payable

4,933,616,083.83

4,091,202,311.62

Payments received in advance

2,223,762,204.30

1,097,790,178.39

Disposal of repurchased

   financial assets

Handling charges and

   commissions payable

Staff remuneration payable

743,903,202.66

602,077,430.67

Taxes payable

-188,582,945.59

626,597,432.13

Interest payable

477,675.00

Dividend payable

109,707,611.93

37,015,033.14

Other payable

5,665,845,185.37

4,935,182,344.60

Reinsurance accounts payable

Deposits for insurance contracts

Customer deposits for trading

   in securities

Customer deposits for underwriting

Non-current liabilities due

   within one year

2,777,661,863.33

2,477,022,069.03

Other current liabilities

5,432,854,868.54

3,205,457,067.81

Total current liabilities

34,734,801,250.27

23,251,936,724.87

Non-current liabilities:

Long-term borrowings

23,250,689,124.04

15,479,914,258.19

Debentures payable

7,083,683,888.90

2,029,182,500.00

Long-term payables

Special payables

15,000,000.00

88,000,000.00

Accrued liabilities

33,033.00

Deferred income tax liabilities

213,343,154.51

172,460,344.63

Other non-current liabilities

114,002,115.69

92,555,148.69

Total non-current liabilities

30,676,751,316.14

17,862,112,251.51

Total liabilities

65,411,552,566.41

41,114,048,976.38

Owner's equity

   (or shareholders' equity):

Paid-up capital (share capital)

13,524,487,892.00

13,524,487,892.00

Capital reserve

13,213,760,814.81

17,296,864,488.98

Less: Treasury stock

Surplus reserve

5,719,085,176.13

5,719,085,176.06

General risk provision

Undistributed profit

25,869,122,414.36

24,026,506,614.19

Difference arising from

   foreign currencies translation

-94,510,971.85

10,046,701.59

Equity attributable to shareholders

   of the Company

58,231,945,325.45

60,576,990,872.82

Minority interests

4,211,319,846.60

3,805,144,011.11

Total owner's equity

62,443,265,172.05

64,382,134,883.93

Total liabilities and owners' equity

127,854,817,738.46

105,496,183,860.31

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

Balance Sheet

As at 30 September 2008

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

Items

Closing balance

Opening balance

at the end

in the beginning

of the period

of the year

Current assets:

Cash and bank balance

6,058,367,326.34

5,121,705,299.56

Held for trading financial assets

Bills receivable

621,817,141.60

1,539,934,767.09

Accounts receivable

3,615,187,519.28

1,121,608,536.67

Prepayments

1,109,320,699.83

370,447,718.05

Interest receivable

Dividends receivable

140,071,192.15

4,656,000.37

Other receivable

2,091,240,068.80

1,432,617,086.71

Inventories

12,605,071,234.70

9,654,909,046.85

Non-current assets

   due within one year

17,922,491.23

48,646,759.83

Other current assets

159,349,441.85

47,450,838.84

Total current assets

26,418,347,115.78

19,341,976,053.97

Non-current assets:

Financial assets available for sale

7,000,000.00

7,000,000.00

Held-to-maturity investment

Long-term receivables

Long-term equity investments

13,096,719,768.45

8,289,413,828.46

Investment properties

Fixed assets

42,597,578,969.24

38,161,236,861.35

Construction in progress

8,728,807,454.16

7,354,009,579.55

Construction materials

243,553,003.43

155,135,869.36

Disposal of fixed assets

27,869,216.24

Biological assets for production

Fuel assets

Intangible assets

690,043,164.87

596,147,137.68

Development expenses

Goodwill

2,330,945,875.24

2,330,945,875.24

Long-term deferred expenditures

102,188,991.18

85,657,942.95

Deferred income tax assets

269,944,640.14

273,870,089.94

Other non-current assets

Total non-current assets

68,094,651,082.95

57,253,417,184.53

Total assets

94,512,998,198.73

76,595,393,238.50

Current liabilities:

Short-term borrowings

3,900,000,000.00

Held-for-trading financial liabilities

Notes payable

50,000,000.00

36,500,000.00

Accounts payable

2,975,750,051.85

2,792,863,649.04

Unearned receipts

515,088,804.66

549,703,650.42

Staff remuneration payables

422,084,798.78

213,800,288.37

Taxes payable

43,748,157.67

504,634,856.84

Interest payable

Dividends payable

19,414,500.00

Other payable

3,695,561,341.56

3,818,730,264.24

Non-current liabilities

   due within one year

1,589,969,200.00

1,549,938,400.00

Other current liabilities

5,300,128,620.69

3,143,393,462.41

Total current liabilities

18,492,330,975.21

12,628,979,071.32

Non-current liabilities:

Long-term borrowings

12,291,954,000.00

5,294,354,000.00

Debentures payable

7,083,683,888.90

2,029,182,500.00

Long-term payables

Special payables

88,000,000.00

Accrued liabilities

Deferred income tax liabilities

142,653,882.95

147,143,985.11

Other non-current liabilities

41,507,358.00

60,297,358.00

Total non-current liabilities

19,559,799,129.85

7,618,977,843.11

Total liabilities

38,052,130,105.06

20,247,956,914.43

Owner's equity

   (or shareholders' equity):

Paid-up capital (share capital)

13,524,487,892.00

13,524,487,892.00

Capital reserve

14,132,934,923.34

15,524,246,116.50

Less: Treasury stock

Surplus reserve

5,719,085,176.13

5,719,085,176.13

Undistributed profit

23,084,360,102.20

21,579,617,139.44

Total owners' equity

   (or shareholders' equity)

56,460,868,093.67

56,347,436,324.07

Total liabilities and owners' equity

94,512,998,198.73

76,595,393,238.50

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

4.2

Consolidated income statement

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

From the

From the

beginning of

beginning of

last year to

year to

the end of

the end of

reporting

Amount for

Amount for

reporting

period

the period

last period

period

last year

(July-

(July-

(January-

(January-

Items

September)

September)

September)

September)

1.

Total operating revenue

19,080,704,374.01

20,715,519,673.09

58,687,530,120.53

63,366,644,243.31

Including: operating revenue

19,080,704,374.01

20,715,519,673.09

58,687,530,120.53

63,366,644,243.31

Interest income

Premiums earned

Handling charges and

   commission income

2.

Total cost of operations

19,159,318,367.89

17,255,207,872.31

55,428,273,051.37

50,328,139,870.29

Including: operating cost

17,579,185,747.07

15,808,196,841.80

51,074,973,633.66

46,459,059,683.21

Interest expenses

Handling charges and

   commission expenses

Surrender payment

Net expenditure for

   compensation payments

Net provision for withdrawal

   of insurance deposits

Policyholder dividend expenses

Reinsurance costs

Business tax and surcharges

83,881,354.64

158,039,025.11

284,905,805.15

451,843,790.98

Selling expenses

413,684,315.03

354,002,059.21

1,130,588,190.31

962,679,050.12

Administrative expenses

538,091,054.50

646,392,135.17

1,672,259,403.73

1,639,553,269.51

Finance expenses

550,627,795.24

284,990,693.94

1,283,251,205.38

809,947,344.75

Loss on assets impairment

-6,151,898.59

3,587,117.08

-17,705,186.86

5,056,731.72

Add:

Gains on fair

   value changes

   (loss stated with "-")

150,385,273.59

-34,805,532.07

164,228,580.56

34,962,771.71

Investment income

   (loss stated with "-")

176,513,709.28

73,258,446.13

346,335,389.70

230,416,596.82

Including:

Investment income

   from associated

   companies and

   jointly controlled

   entities

45,371,885.18

54,666,509.79

157,175,956.05

204,179,899.33

Foreign currencies

   exchange gains

    (loss stated with "-")

3.

Operating profit

   (loss stated with "-")

248,284,988.99

3,498,764,714.84

3,769,821,039.42

13,303,883,741.55

Add:

Non-operating income

53,962,515.25

39,986,955.46

152,856,231.89

46,050,207.06

Less:

Non-operating expenses

7,111,414.59

66,201,716.29

371,362,665.13

96,885,648.11

Including:

Net loss from disposal

   of non-current assets

-873,724.19

45,407,761.10

40,483,197.95

45,407,761.10

4.

Total profit (loss stated with "-")

295,136,089.65

3,472,549,954.01

3,551,314,606.18

13,253,048,300.50

Less: Income tax expenses

120,013,254.29

963,561,170.94

762,180,933.20

2,784,774,452.48

5.

Net profit (loss stated with "-")

175,122,835.36

2,508,988,783.07

2,789,133,672.98

10,468,273,848.02

Net profit attributable to

   shareholders of the Company

182,896,608.45

2,294,777,034.45

2,583,643,429.55

9,264,654,003.85

Minority interests

-7,773,773.09

214,211,748.62

205,490,243.43

1,203,619,844.17

6.

Earnings per share:

(i)

Basic earnings per share

0.014

0.191

(ii)

Diluted earnings per share

0.014

0.191

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

Income statement of the Company

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

From the

From the

beginning of

beginning of

last year to

year to

the end of

the end of

reporting

Amount for

Amount for

reporting

period

the period

last period

period

last year

(July-

(July-

(January-

(January-

Items

September)

September)

September)

September)

1.

Operating revenue

13,119,535,111.86

11,296,109,624.45

35,899,945,514.83

31,852,252,351.31

Less:

operating costs

12,162,658,340.76

8,311,904,626.25

31,008,734,322.42

21,440,129,514.12

Business tax and surcharges

57,490,801.84

102,052,862.98

197,396,201.87

286,803,162.58

Selling expenses

244,042,988.94

190,322,728.60

623,834,359.77

499,745,055.08

Administrative expenses

421,703,319.14

413,589,056.45

1,188,689,013.79

1,001,903,485.07

Finance expenses

367,348,140.50

64,175,701.11

652,552,507.32

176,117,337.22

Loss on assets impairment

-6,120,706.04

-1,563,628.15

-5,380,866.69

-535,459.87

Add:

Gains on fair value

   changes (loss stated

   with "-")

Investment income

\

    (loss stated with "-")

201,434,440.71

249,976,148.21

554,449,989.33

448,491,408.38

Including:

Investment income

   from associated

   companies and

   jointly controlled

   entities

191,324,388.45

248,350,587.56

535,528,841.19

445,596,922.99

2.

Operating profit

    (loss stated with "-")

73,846,667.43

2,465,604,425.42

2,788,569,965.68

8,896,580,665.49

Add:

Non-operating income

42,065,581.37

1,652,834.22

115,788,573.31

4,251,037.58

Less:

Non-operating expenses

6,246,498.27

46,488,468.80

320,987,654.20

58,690,936.96

Including:

Net loss from disposal

   of non-current assets

3,338,151.84

33,140,879.93

34,327,757.44

36,006,128.39

3.

Total profit (loss stated with "-")

109,665,750.53

2,420,768,790.84

2,583,370,884.79

8,842,140,766.11

Less:

Income tax expenses

30,166,919.52

606,010,992.24

449,633,110.77

1,950,764,381.15

4.

Net profit (loss stated with "-")

79,498,831.01

1,814,757,798.60

2,133,737,774.02

6,891,376,384.96

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

4.3

Consolidated Cash Flow Statement

January-September 2008

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

From the

beginning of

From the

last year to

beginning of

the end of

year to

reporting

the end of

period

reporting period

last year

(January-

(January-

Items

September)

September)

1.

Cash flow from operating activities:

Cash received from product sales and

   rendering of services

74,148,992,299.77

81,658,670,459.47

Net increase in deposits from

   customers and placements from

   banks and other financial institutions

Net increase in borrowings from

   central bank

Net increase in placements from

   other financial institutions

Cash received from premiums of

   original insurance contracts

Net cash received from

   reinsurance business

Net increase in deposits from

   policyholders and investments

Net increase in disposal of

   held-for-trading financial assets

Cash received from interest,

   handling charges and commissions

Net increase in placements from banks

   and other financial institutions

Net increase in repurchases

Refund of tax and levies received

108,560,992.64

65,771,529.43

Other cash received relating to

   operating activities

167,194,572.66

56,091,028.04

Sub-total of cash inflow from

   operating activities

74,424,747,865.07

81,780,533,016.94

Cash paid for purchase of goods and

   receipt of services

63,498,869,623.80

60,076,123,728.04

Net increase in loans and

   advances to customers

Net increase in placements with

   central bank and

   other financial institutions

Cash paid for claims on

   original insurance contracts

Cash payment for interest,

   handling charges and commissions

Cash payment for policyholder dividend

Cash paid to and on behalf of employees

4,322,747,419.54

3,023,076,265.80

Taxes and surcharges paid

4,816,367,414.85

8,584,951,624.97

Other cash paid relating to

   operating activities

939,571,034.27

953,970,833.48

Sub-total of cash outflow from

   operating activities

73,577,555,492.46

72,638,122,452.29

Net cash flow from operating activities

847,192,372.61

9,142,410,564.65

2.

Cash flows from investment activities:

Cash received from disposal of investments

96,054,000.00

2,849,135,012.76

Cash received from returns on investments

141,805,509.18

87,837,224.14

Net cash received from disposal of

   fixed assets, intangible assets and

   other long-term assets

94,452,451.53

146,552,737.06

Net cash received from disposal of

   subsidiaries and other operating entities

Other cash received relating to

   investment activities

56,452,441.78

460,851,469.70

Sub-total of cash inflow from

   investment activities

388,764,402.49

3,544,376,443.66

Cash paid to acquire fixed assets,

   intangible assets and

   other long-term assets

14,737,669,648.72

7,150,194,283.03

Cash paid for investment

229,846,275.00

65,882,237.16

Net increase in pledged loans

Net cash paid for acquisition of subsidiaries

   and other operating entities

4,102,065,939.67

Other cash paid relating to investment activities

104,521,579.53

68,573,881.06

Sub-total of cash outflow from investment activities

19,174,103,442.92

7,284,650,401.25

Net cash flows from investment activities

-18,785,339,040.43

-3,740,273,957.59

3.

Cash flow from financing activities:

Proceeds received from investments

184,800,000.00

-300,000.00

Including:

Proceeds received by subsidiaries

   from minority

   shareholders' investment

184,800,000.00

Cash received from borrowings

25,253,162,847.28

7,319,294,150.85

Cash received from issue of debentures

6,977,000,000.00

4,966,904,314.56

Other cash received relating to financing activities

126,303,033.00

45,092,295.72

Sub-total of cash inflow from financing activities

32,541,265,880.28

12,330,990,761.13

Cash paid for repayment

12,432,138,820.92

10,754,736,678.00

Cash paid for dividend and

   profit distribution or interest repayment

3,709,530,695.86

3,040,952,645.50

Including:

Dividend and profit paid by

   subsidiaries to minority shareholders

233,053,730.78

225,896,960.11

Other cash paid relating to financing activities

43,070,048.09

Sub-total of cash outflow from financing activities

16,141,669,516.78

13,838,759,371.59

Net cash flows from financing activities

16,399,596,363.50

-1,507,768,610.46

4.

Effect on cash and cash equivalent due to

   change in foreign currency exchange rate

5.

Net increase in cash and cash equivalents

1,469,449,695.69

3,894,367,996.60

Add:

Balance of cash and cash equivalents

   at the beginning of the period

8,708,363,109.58

10,743,299,843.45

6.

Balance of cash and cash equivalents

   at the end of the period

10,177,812,805.27

14,637,667,840.05

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

Cash Flow Statement of the Company

January-September 2008

Prepared by: Aluminum Corporation of China Limited

Unit: RMB, Unaudited

From the

beginning of

From the

last year to

beginning of

the end of

year to

reporting

the end of

period

reporting period

last year

(January-

(January-

Items

September)

September)

1.

Cash flow from operating activities:

Cash received from product sales and

   provision of services

40,415,295,409.40

36,872,608,570.20

Refund of tax and levies received

Other cash received relating to operating activities

100,440,038.71

3,487,395.00

Sub-total of cash inflow from operating activities

40,515,735,448.11

36,876,095,965.20

Cash paid for purchase of goods and

   receipt of services

33,917,150,523.38

21,914,887,481.77

Cash paid to and on behalf of employees

3,299,466,184.86

2,673,352,397.23

Taxes and surcharges paid

3,082,626,063.86

6,068,362,036.12

Other cash paid relating to operating activities

657,339,403.47

952,032,837.25

Sub-total of cash outflow from operating activities

40,956,582,175.57

31,608,634,752.37

Net cash flow from operating activities

-440,846,727.46

5,267,461,212.83

2.

Cash flows from investment activities:

Cash received from disposal of investments

2,850,000,000.00

Cash received from returns on investments

171,862,651.70

337,327,219.73

Net cash received from disposal of fixed assets,

   intangible assets and other long-term assets

20,505,456.62

89,839,055.31

Net cash received from disposal of subsidiaries and

   other operating entities

21,373,184.77

Other cash received relating to investment activities

56,256,185.17

528,331,933.02

Sub-total of cash inflow from investment activities

269,997,478.25

3,805,498,208.06

Cash paid to acquire fixed assets,

   intangible assets and other long-term assets

6,638,636,565.01

4,115,553,000.58

Cash paid for investment

63,882,225.00

715,604,924.08

Net cash paid for acquisition of

   subsidiaries and other operating entities

5,612,182,580.54

Other cash paid relating to investment activities

750,648,204.76

170,000,000.00

Sub-total of cash outflow from investment activities

13,065,349,575.31

5,001,157,924.66

Net cash flows from investment activities

-12,795,352,097.06

-1,195,659,716.60

3.

Cash flows from financing activities:

Proceeds received from investments

Cash received from borrowings

12,437,835,891.00

1,194,600,000.00

Other cash received relating to financing activities

6,977,000,000.00

4,974,069,999.76

Sub-total of cash inflow from financing activities

19,414,835,891.00

6,168,669,999.76

Cash paid for repayment

6,088,369,200.00

4,849,594,678.00

Cash paid for dividend and profit distribution or

   interest repayment

2,204,278,407.38

1,956,570,776.44

Other cash paid relating to financing activities

Sub-total of cash outflow from financing activities

8,292,647,607.38

6,806,165,454.44

Net cash flows from financing activities

11,122,188,283.62

-637,495,454.68

4.

Effect on cash and cash equivalents due to

   change in foreign currency exchange rate

5.

Net increase in cash and cash equivalents

893,989,459.11

3,434,306,041.55

Add:

Balance of cash and cash equivalents

   at the beginning of the period

5,121,705,299.56

6,982,830,776.56

6.

Balance of cash and cash equivalents

   at the end of the period

6,015,694,758.67

10,417,136,818.11

Company Legal

Person-in-charge

Head of Accounting

Representative:

of accounting:

Department:

Xiao Yaqing

Chen Jihua

Ou Xiaowu

By order of the Board of

Aluminum Corporation of China Limited*

Xiao Yaqing

Chairman

Beijing, the PRC

24 October 2008

As of the date of this announcement, the members of the Board comprise of Mr. Xiao Yaqing, Mr. Luo Jianchuan, Mr. Chen Jihua and Mr. Liu Xiangmin (Executive Directors); Mr. Shi Chungui (Non-executive Director); Mr. Kang Yi, Mr. Zhang Zhuoyuan, Mr. Wang Mengkui and Mr. Zhu Demiao (Independent Non-executive Directors).

* For identification purpose only.

About the Company

Our contact information of this release is:

*

Business address: No.62 North Xizhimen Street, Haidian District, Beijing, People's Republic of China, 100082

*

Telephone number: (86-10) 8229 8103

*

Website: http://www.chinalco.com.cn

*

Contact person: Liu Qiang, Company Secretary