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  August 25, 2009       

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

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents 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)

The Board of Directors (the "Board") of Aluminum Corporation of China Limited (the "Company") is pleased to announce the unaudited results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2009. This announcement, containing the full text of the 2009 Interim Report of the Company, complies with the relevant requirements of the Hong Kong Listing Rules in relation to information to accompany preliminary announcements of interim results. Printed version of the Company's 2009 Interim Report will be delivered to the H-Share Holders of the Company and available for viewing on the websites of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and of the Company at www.chalco.com.cn on 3 September 2009.

CORPORATE INFORMATION

1.

Registered name

:

Abbreviation of Chinese name

:

Name in English

:

ALUMINUM CORPORATION OF

    CHINA LIMITED

Abbreviation of English name

:

CHALCO

2.

First registration date

:

September 10, 2001

Registered address

:

No. 62 North Xizhimen Street, Haidian District, Beijing, the PRC 100082

Place of business

:

No. 62 North Xizhimen Street,

Haidian District, Beijing,

the PRC

100082

Principal place of business

:

Unit 3103, 31/F., Office Tower, Convention Plaza,

    in Hong Kong

1 Harbour Road, Wanchai, Hong Kong

Internet website

:

http://www.chalco.com.cn

E-mail

:

IR_FAQ@chalco.com.cn

3.

Authorized representative

:

Xiong Weiping

Company (Board) Secretary

:

Liu Qiang

Telephone

:

(8610) 8229 8103

Fax

:

(8610) 8229 8158/8229 8090

E-mail

:

IR_FAQ@chalco.com.cn

Address

:

No. 62 North Xizhimen Street, Haidian District, Beijing, the PRC 100082

Representative of the Company's

:

Zhang Qing

    Securities affairs

Telephone

:

(8610) 8229 8150

Fax

:

(8610) 8229 8158

E-mail

:

IR_FAQ@chalco.com.cn

Address

:

No. 62 North Xizhimen Street, Haidian District, Beijing, the PRC 100082

Department for corporate

:

Secretarial Office to the Board

    information and inquiry

Telephone for corporate

:

(8610) 8229 8150/8229 8156/8229 8157

    information and inquiry

4.

Share registrar and transfer office

:

Hong Kong Registrars Limited

Shops 1712-1716, 17th Floor, Hopewell Centre,

183 Queen's Road East, Hong Kong

China Securities Depository and

    Clearing Corporation Limited,

    Shanghai Branch

3/F, China Insurance Building,

No. 166, Lujiazui Road (East),

Shanghai, China

American Depositary Receipt

:

The Bank of New York Corporate Trust Office

101 Barclay Street, New York,

NY 10286 USA

5.

Places of listing

:

The Stock Exchange of Hong Kong Limited ("HKSE")

New York Stock Exchange, Inc ("NYSE")

Shanghai Stock Exchange

Stock Name

:

CHALCO

Stock code

:

2600 (HK)

ACH (US)

601600 (China)

6.

Principal bankers

:

Industrial and Commercial Bank of China

China Construction Bank

7.

Independent Auditors

:

PricewaterhouseCoopers

Certified Public Accountants

22/F Prince's Building,

Central, Hong Kong

8.

Legal advisers

:

as to Hong Kong law:

Baker & McKenzie

23rd Floor, One Pacific Place

88 Queensway

Hong Kong

as to United States law:

Baker & McKenzie

23rd Floor, One Pacific Place

88 Queensway

Hong Kong

as to PRC law:

Jincheng Tongda & Neal

11/F, Huaxia Bank Tower

No. 22 Jianguomennei Avenue,

Dong Cheng District, Beijing

The People's Republic of China

The Board of Directors (the "Board") of Aluminum Corporation of China Limited (the "Company") announces the unaudited interim results of operations of the Company and its subsidiaries (the "Group") for the six months ended June 30, 2009. On behalf of the Company and its staff, the Board would like to express its gratitude to our shareholders for their support to the Company.

In the first half of 2009, as the international financial crisis unfolds, aluminum related industries such as construction and automobile manufacturing saw sluggish demand. The prices of products lingered at low level, which posed unprecedented difficulties and challenges to the Group's production and operation. Despite the gloomy environment, the Group adopted scientific and effective countermeasures including enhancing management, tapping potential, improving efficiency and monitoring investment to ensure supply and boost sales. Hence, the Group maintained smooth operation under extremely difficult conditions.

1.

Affected by weakening demand and depressing prices of alumina and aluminum, the production capacity utilization rate of the Group remained low. As at the end of June 2009, the production capacity utilization rate of alumina and aluminium of the Group were 66.9% and 83.4%, respectively. Under the principle of maximizing efficiency, the Group took initiative measures including timely adjustment and optimization of production operation plan, and improvement of production process to achieve economical operation, thus ensuring the smooth production operation. In the first half of 2009, the Group produced 3.2 million tonnes of alumina, representing a decrease of 31.6% from the corresponding period last year. The production volume of alumina chemicals was 490,000 tonnes, representing a decrease of 12.7% from the corresponding period last year. The production volume of aluminum amounted to 1.61 million tonnes, representing an increase of 5.9% over the corresponding period last year. The production volume of aluminum fabrication products was 190,000 tonnes, representing an increase of 110.1% over the corresponding period last year.

2.

The Group strengthened cost management in all aspects, lowering costs and boosting efficiency in all processes. It endeavoured to reduce materials and energy consumption, implementing cost reduction in every production flow and position while optimizing technical and economical indicators. The Group strictly controlled cost and expenses, fully tapped potentials and reduced inventories, with more in-depth analysis on economic activities as well as improved budget and cash flow alert system. In the first half of 2009, unit production cost of the Company was lower than the corresponding period last year, of which, production costs of alumina and aluminium were decreased by 15% and 20%, respectively.

3.

The Group reduced investment and reappraised the market competitiveness of key projects. By analyzing capital scheme for capital expenditure purpose, it optimized capital arrangements for projects. Accordingly, capital expenditure in the first half of 2009 amounted to RMB4.828 billion, representing a year-on-year decrease of 51.1%.

4.

The Group promoted sales of the products and improved production to sales ratio by tracking and analyzing market dynamics. In the first half of 2009, the production to sales ratio of alumina and aluminium products were 100% and 107%, respectively. Adopting low inventory strategy on supply front, the Company fully consumed existing inventories and eased capital tied-up. As at the end of June, reserve inventories decreased by RMB2 billion from the beginning of the year.

5.

The Group further reinforced resource protection, and spared no effort in accelerating the pace of mine construction, strengthening ore procurement and production and improving safety and reliability of ore supply and comprehensive utilization of resources. In the first half of 2009, self-mining ores increased by approximately 55.1% from the same period last year, with increased self-mining capacity of bauxite of 1.05 million tonnes.

6.

The Group further promoted its overseas projects. Chalco (Hong Kong) Limited, a subsidiary of the Company, and Malaysia Mining Company (MMC) and Saudi Arabian Binladin Group (SBG), planed to develop and operate a primary aluminum plant with an annual capacity of approximately 1 million tonnes and a self-owned power plant in Jazan Economic City of Saudi Arabia. Currently, the feasibility report for the project is being prepared.

The Company is preparing the feasibility report for alumina project in Queensland, Australia.

7.

In the first half of 2009, the Group expedited promotion of mature technology and development of operative technology, which helped to gain more profits. Meanwhile, more efforts were put in the development of forward-looking key technologies. As for alumina, leveraging on developed technologies such as Bayer Red Mud Swirl Grading, the Group upgraded and optimized some of its production lines and further reduced cost. On the other hand, consumption in the process was reduced by adopting processes with shortest material flow, most efficient and lowest consumptive equipments and lowest cost. As for aluminum, the concentrative promotion of technologies such as "3-dimensional refinements" proved very effective. It boosted the efficiency of electric current and lowered direct current power consumption per tonne aluminium, greatly saving the power. As for aluminum fabrication, focus was put on development of new materials and new products such as aluminum alloys for transportation application, high quality can foil, CTP plate base and metal composite materials.

8.

The Group is committed to transform itself into a resource-efficient enterprise. It speeded up the renovation of integrated energy-saving technology by means of new production techniques and technologies, mainly by streamlining its production workflow and perfecting its product structure. In the first half of 2009, the Group saved energy equivalent to 480,000 tonnes of standard coal and maintained a clean environment.

9.

The Group proactively carried out cooperation and negotiation in direct purchase of electricity, including participating in modification of the state's sample contract for the direct purchase of electricity and finalizing pilot measures for direct purchase of electricity. Currently, the relevant work is progressing smoothly.

10.

On June 30 2009, the resolution of proposed private offering of RMB denominated ordinary shares (A shares) was approved by the Board of the Company, details of which are as follows: Not more than 1,000,000,000 A shares would be issued to no more than ten target subscribers. The issue price will be not less than 90% of the average trading price of the A shares of the Company in the 20 trading days immediately preceding the pricing base date. The shares subscribed by the target subscribers are not transferable for a period of 12 months from the date of completion of the offering. Period of validity of the resolutions which approved the offering: 12 months from the date of the resolutions passed at the extraordinary general meeting, A Share Class Meeting and H Share Class Meeting.

The implementation of the proposal were approved by the shareholders at the extraordinary general meeting, A Share Class Meeting and H Share Class Meeting held on 24 August 2009 and is subject to the approval by China Securities Regulatory Commission and other relevant regulatory authorities.

Since the beginning of the year, alumina price have continued the downward trend of last year, lingering at low levels. In the first quarter, CIF PRC price for spot alumina in the international market bottomed at US$170 per tonnes. The lowest price of domestic spot alumina was RMB1,800 per tonnes. By the end of June, CIF China price for spot alumina in international market was approximately US$270 per tonne. The spot price of domestic alumina was approximately RMB2,150 per tonne.

Since the beginning of the year, global alumina operating capacity has been declining. By the end of June, the capacity utilization rate of global alumina was 78% while the utilization rate in China was 67%. In the first half of 2009, the global output and consumption of alumina amounted to 35.51 million tonnes and 34.23 million tonnes respectively, representing a year-on-year decrease of 10.2% and 12.2%. China's production volume of alumina was 10.62 million tonnes, down by 4.6% year-on-year; alumina imported to the PRC was 2.68 million tonnes, representing a year-on-year increase of 12.1%; demand for alumina reached 11.41 million tonnes, representing a year-on-year decrease of 15.4%.

In the first half of the year, global aluminum consumption remained sluggish, which resulted in the dangling of aluminum price in low territory. Price hit the bottom of the year in February at US$1,288 per tonne. With stimulus packages from governments, recovery of economy, depreciation of US Dollar and reserve of the PRC government, aluminium price rebounded gradually, hitting the high of the three-month aluminum futures price on London Metal Exchange (LME) at US$1,700 per tonne. Domestic aluminum prices closed at RMB11,890 per tonne at the beginning of the year. Three-month aluminum futures price on Shanghai Futures Exchange (SHFE) hit as high as RMB14,480 per tonne. In the first half of the year, the average price of three-month aluminum futures on LME was US$1,457 per tonne, decreasing by 49.0% year-on-year; the average price of three-month aluminum futures on SHFE was RMB12,195 per tonne, down 36.7% year-on-year. Since the beginning of the year, aluminum smelters around the world have been shutting down their capacity. As at the end of June 2009, capacity utilization rate of global aluminum smelters was 80.8% while the utilization rate in China was 69.3%. In the first half of the year, primary aluminum consumption in China and the world had seen negative growth. The global output of primary aluminum was 17. 63 million tonnes, representing a year-on-year decrease of 11.4%; the global consumption of primary aluminum was 16.31 million tonnes, representing a year-on-year decrease of 19.3%. China's output of primary aluminum was 5.67 million tonnes, representing a year-on-year decrease of 14.4%; its consumption of primary aluminum was 6.02 million tonnes, representing a year-on-year decrease of 4.4%.

Since the beginning of the year, the market demand for aluminum fabrication materials witnessed a year-on-year decrease under the impact of the international financial crisis, such decrease was mainly attributable to the industry downturn in the construction, transportation and delivery and power industries, which accounted for 70% of the total consumption of aluminum. Exports of electrical appliances products and domestic consumption in the PRC saw a plunge while a majority of the downstream enterprises of aluminum fabrication, including enterprises of packaging, building materials, machinery, electronics and durable goods, suffered under-utilization of capacity. Besides, exports of domestic aluminum fabrication materials in the PRC decreased by approximately over 40% as compared to the corresponding period last year. Overseas products, such as tank and aluminum foil materials, set foot in the domestic market of the PRC. Orders of aluminum during the first quarter of 2009 contracted as compared to the corresponding period last year while that of the second quarter rebounded. In the first half of the year, the production capacity of aluminum fabrication saw a year-on-year increase whilst utilization rate of capacity lingered at 70% and processing charges faced a falling trend. In the first half of 2009, the output and consumption of domestic aluminum fabricated products amounted to 7.80 million tonnes and 7.40 million tonnes, respectively, representing a year-on-year growth of 10% and 9.9%, respectively.

In the second half of 2009, as global economy stabilizes and demand rebounds, aluminum price is to fluctuate toward higher ends. The Group is to focus on cost control, continue to promote cost-oriented strategy, lower cost and improve efficiency. Efforts will be put on the following aspects:

1.

In order to ensure the stability in production and operation, the Group will organize its production activities in a flexible way under the principle of maximizing efficiency. Further, it will develop the overall advantage of the product chain and exploit the synergy effect.

2.

To actively promote comprehensive budget controls and centralized capital management. The Group will strengthen the financial control and further optimize the debt structure so as to lower cost of capital. Meanwhile, sufficient cash reserve will be maintained.

3.

To further press ahead the resource strategy, step up mine construction and improve the reliability of ore supply. The Group will accelerate the industrial application of ore-processing, optimize resources allocation, and upgrade comprehensive utilization of resources. At the same time, overseas development projects will be promoted in a continuous manner.

4.

To enhance the forward-looking research, and pile up strategic reservation when prices of raw materials are low. The Group will actively optimize the structure of product inventory, lower average storage cost and purchase cost.

5.

To further utilize the advantage of centralized management of sales, innovate marketing modes, implement more active and flexible marketing strategy to consolidate and expand market shares.

6.

To actively engage in industry restructure and coordinate project deployment. High-cost capacity will be replaced by lower cost and more competitive projects. The industry deployment will concentrate in areas abundant in resources, energy and consumer markets. The Group targets to produce products with high quality, high-tech, high added value and strong market competitiveness while its production will be shifted toward safe, clean, saving, low emission and recycling features. Meanwhile, the Group aims to operate at lower cost, higher efficiency and more profitability and transform its management mode toward lean and concentrated management. By optimizing investment structure and lowering investment cost, the Group will inject highly competitive new factors to recast its new edges.

7.

To expedite the technological strategies. The Group will focus on cost cut and efficiency enhancement, energy saving and emission reduction, and technical reserves. Advanced technology will be adopted actively to upgrade equipment and product quality, lower resources and energy consumption for the sustainable development of the Company.

8.

To further improve the investment management system, strengthen responsibility monitoring mechanism for investment projects (especially for major projects), and promote accountability system for investment projects.

9.

To proactively press ahead cooperation and negotiation in direct purchase of electricity.

Turnover of the Group for the six months ended June 30, 2009 amounted to RMB28.0 billion, representing a decrease of 29% over the same period last year. The loss attributable to equity holders of the Company amounted to RMB3.522 billion, representing a decrease of 247% over the same period last year. Loss per share attributable to the equity holders of the Company was RMB0.26.

The Board does not propose an interim dividend for the six months ended June 30, 2009.

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION
For The Six Months Ended June 30, 2009

UNAUDITED CONDENSED CONSOLIDATED INTERIM BALANCE SHEET
As of June 30, 2009
(Amounts expressed in thousands of RMB unless otherwise stated)

June 30,

December 31,

2009

2008

Note

RMB'000

RMB'000

ASSETS

Non-current assets

    Intangible assets

5

3,043,084

2,966,879

    Property, plant and equipment

5

87,529,083

86,014,123

    Land use rights and leasehold land

1,729,137

1,730,550

    Interests in jointly controlled entities

618,511

701,850

    Interests in associates

146,409

104,809

    Available-for-sale financial assets

41,592

38,214

    Deferred income tax assets

1,494,809

698,504

    Other non-current assets

536,058

785,103

Total non-current assets

95,138,683

93,040,032

Current assets

    Inventories

17,839,086

19,876,015

    Accounts receivable

6

2,291,574

2,035,324

    Other current assets

4,839,165

4,222,699

    Financial assets at fair value

        through profit or loss

64,325

57,864

    Restricted cash

814,263

242,753

    Fixed deposits

103,139

70,703

    Cash and cash equivalents

13,077,148

15,982,129

Total current assets

39,028,700

42,487,487

Total assets

134,167,383

135,527,519

EQUITY

Equity attributable to equity

    holders of the Company

    Share capital

13,524,488

13,524,488

    Reserves

38,049,083

41,473,994

51,573,571

54,998,482

Minority interests

4,898,310

5,198,340

Total equity

56,471,881

60,196,822

LIABILITIES

Non-current liabilities

    Long-term borrowings

7

38,220,472

36,132,552

    Deferred income tax liabilities

74,165

53,768

    Other non-current liabilities

433,216

693,549

Total non-current liabilities

38,727,853

36,879,869

Current liabilities

    Accounts payable

8

5,337,097

4,761,940

    Other payables and accrued expenses

10,093,220

11,151,653

    Short-term borrowings and current

        portion of long-term borrowings

7

23,369,292

22,290,215

    Financial liabilities at fair value through

        profit or loss

-

114,047

    Dividends payable

113,189

108,812

    Current income tax liabilities

54,851

24,161

Total current liabilities

38,967,649

38,450,828

Total liabilities

77,695,502

75,330,697

Total equity and liabilities

134,167,383

135,527,519

Net current assets

61,051

4,036,659

Total assets less current liabilities

95,199,734

97,076,691

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME
For the six months ended June 30, 2009
(Amounts expressed in thousands of RMB unless otherwise stated)

For the six months

ended June 30

2008

Restated

(Note 4)

Note

RMB'000

RMB'000

Revenue

9

27,984,684

39,662,628

Cost of sales

(29,996,984)

(33,766,809)

Gross (loss)/profit

(2,012,300)

5,895,819

Selling and distribution expenses

10

(554,363)

(719,811)

General and administrative expenses

11

(1,166,310)

(1,313,655)

Research and development expenses

(54,318)

(93,107)

Other income, net

12

443,659

88,186

Operating (loss)/profit

13

(3,343,632)

3,857,432

Finance income

63,178

94,272

Finance costs, net

14

(1,095,161)

(815,756)

Shares of (losses)/profits of jointly

    controlled entities

(100,340)

3,405

Shares of profits of associates

29,113

108,724

(Loss)/profit before income tax

(4,446,842)

3,248,077

Income tax

15

672,134

(640,911)

(Loss)/profit for the period

(3,774,708)

2,607,166

Other comprehensive income/(loss),

    net of tax:

    Fair value changes on available-for-sale

        financial assets

2,872

(7,663)

    Exchange differences

66,909

(19,617)

Total other comprehensive income/(loss)

    for the period, net of tax

69,781

(27,280)

Total comprehensive (loss)/income

    for the period

(3,704,927)

2,579,886

(Loss)/profit for the period attributable to:

    Equity holders of the Company

(3,521,759)

2,393,902

    Minority interests

(252,949)

213,264

(3,774,708)

2,607,166

Total comprehensive (loss)/income

    for the period attributable to:

    Equity holders of the Company

(3,453,089)

2,369,589

    Minority interests

(251,838)

210,297

(3,704,927)

2,579,886

Basic (loss)/earnings per share for

    profit attributable to the equity

    holders of the Company

    (expressed in RMB per share)

16

(0.260)

0.177

Dividends

17

-

703,273

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY
For the six months ended June 30, 2009
(Amounts expressed in thousands of RMB unless otherwise stated)

Attributable to equity holders of the Company

Capital reserve

Other

Statutory

Investment

Share

Share

capital

surplus

Special

Exchange

revaluation

Retained

Minority

Total

capital

premium

reserve

reserve

reserve

differences

reserve

earnings

Total

interests

equity

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

As of January 1, 2009

13,524,488

12,893,507

428,833

5,799,232

33,213

(170,353)

1,556

22,488,006

54,998,482

5,198,340

60,196,822

Loss for the six months

    ended June 30, 2009

-

-

-

-

-

-

-

(3,521,759)

(3,521,759)

(252,949)

(3,774,708)

Other comprehensive

     income/(loss):

    Fair value changes

        on available-for-sale

        financial assets-gross

-

-

-

-

-

-

2,070

-

2,070

1,308

3,378

    Fair value changes

        on available-for-sale

        financial assets-tax

-

-

-

-

-

-

(310)

-

(310)

(196)

(506)

    Exchange differences

-

-

-

-

-

66,909

-

-

66,909

-

66,909

Total comprehensive

    income/(loss) for

    the six months ended

    June 30, 2009

-

-

-

-

-

66,909

1,760

(3,521,759)

(3,453,090)

(251,837)

(3,704,927)

Increase in special reserve

-

-

-

-

15,692

-

-

-

15,692

-

15,692

Share of special reserve of

    an associate

-

-

-

-

12,487

-

-

-

12,487

-

12,487

Dividend paid to minority

    shareholders of subsidiaries

-

-

-

-

-

-

-

-

-

(48,193)

(48,193)

As of June 30, 2009

13,524,488

12,893,507

428,833

5,799,232

61,392

(103,444)

3,316

18,966,247

51,573,571

4,898,310

56,471,881

As of January 1, 2008

13,524,488

12,893,507

4,521,180

5,719,084

19,487

10,047

7,547

23,992,723

60,688,063

3,805,144

64,493,207

Profit for the six months

    ended June 30, 2008

-

-

-

-

-

-

-

2,393,902

2,393,902

213,264

2,607,166

Other comprehensive

    income/(loss):

    Fair value changes

        on available-for-sale

        financial assets-gross

-

-

-

-

-

-

(5,525)

-

(5,525)

(3,490)

(9,015)

    Fair value changes

        on available-for-sale

        financial assets-tax

-

-

-

-

-

-

829

-

829

523

1,352

    Exchange differences

-

-

-

-

-

(19,617)

-

-

(19,617)

-

(19,617)

Total comprehensive

    (loss)/income for

    the six months ended

    June 30, 2008

-

-

-

-

-

(19,617)

(4,696)

2,393,902

2,369,589

210,297

2,579,886

Distribution to original

    shareholders in relation

    to common control

    combinations (Note 4)

-

-

(4,154,058)

-

-

-

-

-

(4,154,058)

(26,441)

(4,180,499)

Grants payable transfer

    to capital reserve

-

-

88,000

-

-

-

-

-

88,000

-

88,000

Acquisition of a subsidiary

-

-

-

-

-

-

-

-

-

2,958

2,958

Capital injection

    from minority interest

-

-

-

-

-

-

-

-

-

555,443

555,443

Disposals of subsidiaries

-

-

-

-

-

-

-

-

-

(336)

(336)

Increase in special reserve

-

-

-

-

9,060

-

-

-

9,060

-

9,060

Dividend paid

-

-

-

-

-

-

-

(716,798)

(716,798)

-

(716,798)

Dividend paid to minority

    shareholders of subsidiaries

-

-

-

-

-

-

-

-

-

(220,325)

(220,325)

As of June 30, 2008

13,524,488

12,893,507

455,122

5,719,084

28,547

(9,570)

2,851

25,669,827

58,283,856

4,326,740

62,610,596

For the six months ended June 30, 2009
(Amounts expressed in thousands of RMB unless otherwise stated)

For the six months

ended June 30

2009

2008

Restated

(Note 4)

Note

RMB'000

RMB'000

Net cash generated from operating activities

1,371,297

1,911,106

Cash flows generated from investing activities

Purchases of intangible assets

(80,961)

(10,714)

Purchases of property, plant and equipment

(4,749,495)

(9,014,919)

Purchases of land use rights

-

(138,643)

Proceeds from disposal of property,

    plant and equipment

5,877

11,198

Investment in a jointly controlled entity

(17,001)

(63,882)

Investment in an associate

-

(30,000)

Payments of consideration for acquisitions

    of subsidiaries, net of cash acquired

(69,356)

(4,177,717)

Increase in fixed deposits

(20,000)

(39,910)

Increase in restricted cash

(571,510)

(123,063)

Dividend received

1,843

61,515

Interest received

3,179

2,718

Cash inflow from settlement of future contracts

131,913

96,177

Increase in entrusted loans

-

(100,000)

Others

31,449

(34,671)

Net cash used in investing activities

(5,334,062)

(13,561,911)

Cash flows generated

    from financing activities

Share issuance expenses relating

    to placement in 2007

(32,000)

-

Issuance of short-term and long-term bonds,

    net of issuance expenses

-

6,977,000

Payment of installment of bond issuance expenses

(15,000)

-

Repayments of short-term bonds

(2,000,000)

(3,030,000)

Drawdown of short-term and long-term loans

18,102,559

17,715,278

(Repayments)/drawdown of shareholder's loans

(456,270)

126,270

Repayments of short-term and long-term loans

(12,850,767)

(5,775,220)

Capital injection from minority shareholders

-

184,800

Dividends paid by subsidiaries

    to minority shareholders

(43,816)

(51,459)

Dividends paid to the equity holders

    of the Company

-

(728,922)

Interest paid

(1,661,059)

(1,321,292)

Net cash generated from financing activities

1,043,647

14,096,455

Net (decrease)/increase in cash and

    cash equivalents

(2,919,118)

2,445,650

Cash and cash equivalents

    at beginning of the period

15,982,129

8,824,971

Exchange losses on cash and

    cash equivalents

14,137

19,792

Cash and cash equivalents

    at end of the period

13,077,148

11,290,413

NOTES TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION
For the six months ended June 30, 2009
(Amounts expressed in thousands of RMB unless otherwise stated)

1.

GENERAL INFORMATION

Aluminum Corporation of China Limited () (the "Company") and its subsidiaries (together the "Group") are principally engaged in alumina refining, primary aluminum smelting and aluminum fabrication products. Its principal products are alumina, primary aluminum and aluminum fabrication products.

The Company is a joint stock company incorporated on September 10, 2001 in the People's Republic of China (the "PRC") with limited liability. The address of its registered office is No. 62 North Xizhimen Street, Haidian District, Beijing, the PRC.

The Company had its dual listing on The Stock Exchange of Hong Kong Limited and New York Stock Exchange in 2001. The Company also listed its A shares on the Shanghai Stock Exchange on April 30, 2007.

This unaudited condensed consolidated interim financial information is presented in Chinese Renminbi ("RMB"), unless otherwise stated. It has been approved for issue by the Company's Board of Directors on August 24, 2009.

2.

CHANGES IN FINANCIAL REPORTING STANDARDS

For the six months ended June 30, 2008 and prior periods, the Group's financial statements had been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRS") issued by the Hong Kong Institute of Certified Public Accountants. With effect from the six months ended June 30, 2009, the Company has prepared its consolidated financial statements in accordance with International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Boards (the "IASB") and compiled the comparative financial statements for the six months ended June 30, 2008 in accordance with IFRS. The conversion from HKFRS to IFRS did not result in any material impact on the Group's unaudited condensed consolidated interim financial information.

IFRS 1, 'First-time adoption of International Financial Reporting Standards' is applicable as the Group's unaudited condensed consolidated interim financial information for the six months ended June 30, 2009 is part of the period covered by the Group's first IFRS financial statements for the year ending December 31, 2009. The Group's IFRS adoption and transition date is January 1, 2008 and the Group prepared its opening balance sheet in compliance with IFRS.

The Group adopted IFRS 1 and IAS 27 (Amendment), 'Consolidated and Separate Financial Statements' in relation to recognition of equity investments when converting to IFRS. Management elected to use the carrying amounts of investments in subsidiaries, jointly controlled entities and associates under HKFRS as of transition date as the deemed investment costs on date of IFRS transition. Except for this exemption, the Group did not accept any other exemptions under the provisions of IFRS.

Hence, the transition from HKFRS to IFRS in accordance with IFRS 1 does not result in a change to the Group's owners' equity reported under HKFRS on balance sheet date and comparative period (including date of IFRS transition). It also does not result in any change in the statement of comprehensive income reported under HKFRS for the period ended June 30, 2008. Accordingly, no reconciliations are presented for the shareholders' equity at the relevant balance sheet dates and statement of comprehensive income for the relevant period then ended.

3.

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

(a)

Basis of preparation

This unaudited condensed consolidated interim financial information for the six months ended June 30, 2009 has been prepared in accordance with International Accounting Standard ("IAS") 34, "Interim Financial Reporting". The unaudited condensed interim consolidated financial information should be read in conjunction with the financial statements for the year ended December 31, 2008, which have been prepared in accordance with HKFRS.

(b)

Significant accounting policies

This unaudited condensed consolidated interim financial information has been prepared in accordance with those standards and interpretations issued by the IASB and effective as of financial year beginning on January 1, 2009.

(i)

New standards, amendments to standards which are relevant to the Group's operations and mandatory for the financial year beginning January 1, 2009, and adopted by the Group:

IAS 1 (Revised)

"Presentation of financial statements"

IAS 23 (Revised)

"Borrowing costs"

IFRS 7 (Amendment)

"Financial instruments: disclosures"

IFRS 8

"Operating Segments"

IASB improvement document -

    IFRS 7 (Amendment)

"Financial instruments: disclosures"

    IAS 28 (Amendment)

"Investment in associates"

    IAS 36 (Amendment)

"Impairment of assets"

    IAS 38 (Amendment)

"Intangible assets"

The adoption of these new standards and amendments to standards in the current period did not result in any significant changes to the Group's accounting policies and had no material effect on the unaudited condensed consolidated interim financial statements except for certain disclosures as follows:

*

IAS 1 (revised), 'Presentation of financial statements'. The revised standard prohibits the presentation of terms of income and expenses (i.e. 'non-owner changes in equity') in the consolidated statements of changes in equity, requiring non-owner changes in equity to be required to be shown in a performance statement. Entities may choose whether to present one performance statement (the statement of comprehensive income) or two statements (the income statement and statement of comprehensive income). The Group elected to present one statement and the unaudited condensed interim consolidated financial information has been prepared under the revised presentation and disclosure requirements.

*

IFRS 8, 'Operating segments'. IFRS 8 replaces previous segment reporting and requires a 'management approach' under which segment information is presented on the same basis as that used for internal reporting purposes. As the Group applied the same disclosure basis described above in prior period, it is not expected to have material change to the classification of segments. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief decision-maker has been identified as the Executive Committee that makes strategic decisions. IFRS 8 revised several disclosure items, accordingly prior period comparatives have been restated.

(ii)

New or revised standards and amendments that are relevant to the Group but not yet effective for the period beginning January 1, 2009 and have not been early adopted by the Group:

Effective for

financial

periods beginning

on or after

IFRS 3 (Revised)

"Business combinations"

July 1, 2009

IAS 27 (Amendment)

"Consolidated and separate

July 1, 2009

    financial statements"

IAS 28 (Amendment)

"Investments in associates"

July 1, 2009

IAS 31 (Amendment)

"Interests in joint ventures"