中铝矿业国际 1

August, 2013

2013 Interim Results Corporate Presentation

2

Information contained in this material does not constitute an offer of, or an invitation to purchase or subscribe for, the securities of Chinalco Mining Corporation International (“CMC” or “the Company”) in Hong Kong, the United States or other areas. The securities of the Company has not been registered under the United States Securities Act of 1933, as amended, and may not be offered and sold in the United States, unless they are registered under applicable laws or an exemption from the registration requirements is obtained.

This disclaimer contains statements which are defined as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors, and are based on the current expectations, assumptions, predictions and forecasts of the industry in which the Company currently engages. Unless otherwise required by law, the Company undertakes no obligation to update any forward-looking statements to reflect any subsequent events or circumstances, nor does the Company bear any obligation to make any corresponding changes to its expectations. Although the Company believes that the expectations contained in the forward-looking statements are reasonable, no assurance can be given by the Company to you that the Company’s expectations will prove correct in future, and investors should note that actual results could differ from those expected.

Disclaimer

3

Section 1

Key Updates since 2012 Annual Results

4

Proposed Expansion • Board approved the prosed expansion in the Toromocho Project on June 17, 2013

Resettlement • Completed approx. 82% of the resettlement work as of August 12, 2013 • The remaining residents are expected to resettle as before 2019 • The mining activities will reach the old town area in 2019

Latest Development of the Toromocho Project

• The Toromocho Project is approx. 90% completed • Engineering, civil and concrete works have been fully completed; mechanical and materials

procurement has been 99% completed; site construction has been 82% completed; installation works have been 70% completed and the tailing dam has been 88% completed

• The target mechanical completion date is end of October, 2013 • The Toromocho Project will commence production before December 15, 2013 • Currently invested US$2.9Bn, approx. 83.8% of the total required capital expenditure

Infrastructure • Infrastructure including railway, power supply system, Pomacocha substation, and water supply system has been carried out according to the general plan of Toromocho Project

• The 220 kV transmission line and the works to be completed by the end of September of 2013 • The 23 kV power lines from Toromocho to Kingsmill water treatment plant to be completed by the end

of October of 2013

Preparation for the operation • The Company has hired 333 people into its mining division as of July 31, 2013 • 74 people have been hired for the processing plant as of July 31, 2013 • The hiring process starts with the mining division and then followed by the processing division • The hiring program is expected to be completed by the end of 2013 • The “Toroboys” program that was started in 2012 and aimed to hire local people has selected 92

people to be employed by Chinalco by the end of September 2013

Key Updates Since 2012 Annual Reports

Mine • The roads from the open pit to the primary crusher and to the main waste dump were completed at the end of June 2013. Pre-stripping to the open pit has been deployed and is expected to be completed by the end of October, 2013

5 5

Project Progress Update

5

Project Overview

6 6

Project Progress Update (Continued)

6

Prime Crusher

7 7

Project Progress Update (Continued)

7

Conveyor

8 8

Project Progress Update (Continued)

8

Semi-Automatic Grinder and Ball Mill (Outside)

9 9

Project Progress Update (Continued)

9

Semi-Automatic Grinder and Ball Mill (Inside)

10 10

Project Progress Update (Continued)

10

Floatation Plant

11 11

Project Progress Update (Continued)

11

Port (Warehouse)

12 12

Project Progress Update (Continued)

12

Port

13 13

Project Progress Update (Continued)

13

Construction and Production Equipment

14

The capacity of the Toromocho Project to increase by 45%

The total Capex for the Proposed Expansion is expected to be ~US$1.32 billion

The increased production to commence in ~3Q2016

Summary Highlights of the Proposed Expansion

On 17 June 2013, the Company announced that the Board has approved the Proposed Expansion in order to optimise and increase the capacity of the Toromocho Project

The life of the mine in respect of the Proposed Expansion is expected to be ~26 years

Ore Processing Capacity

ktpd

Highlights of the Proposed Expansion

117.2

~170.0

0.0

50.0

100.0

150.0

200.0

Current Proposed Expansion

15

Detailed Summary of the Proposed Expansion

Location • The Proposed Expansion will be carried out at the Toromocho mine

Construction and the Acquisition of Machinery and Equipment

• Some areas in the Toromocho Project have built-in capacities to handle the additional 45% increase in capacity

• In other areas of the Toromocho Project, the Company intends to construct buildings and structures for ancillary facilities and to acquire and install machinery and equipment for the Proposed Expansion

• It is expected the above will commence from the third quarter of 2013

Capital Expenditure and Operating Costs

• The total capital expenditure for the Proposed Expansion is expected to be ~US$1.32 billion

• The Company does not expect to have any increase in unit operating cost in respect of the Proposed Expansion over and above that of the Toromocho Project

Sources of Financing • (i) Group’s internal working capital

• (ii) Re-allocation of IPO proceeds originally planned for the acquisitions of suitable non-ferrous and non-aluminum mining projects to the Proposed Expansion to the extent required

• (iii) Debt financing (including but not limited to bank loans)

Community Relations and Resettlement

• The Company currently does not expect there to be further resettlement required for the Proposed Expansion

Summary of the Proposed Expansion

• The capacity of the Toromocho Project is expected to increase by 45% under the Proposed Expansion

• The Company expects the increased production resulting from the Proposed Expansion to commence in around the third quarter of 2016

• The life of the mine in respect of the Proposed Expansion is currently expected to be approximately 26 years

• We expect the construction will commence from the third quarter of 2013

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Section 2

2012 Financials Update

17

Competent

Person’s Report Costs incurred as of

June 30, 2013

Mining 297.4 230.4

Process Plant and Infrastructure 1,839.5 1,837.5

Owner’s Cost (1) 626.2 439.2

Additional Projects (2) 622.6 428.4

Subtotal 3,385.7 2,935.5

Contingency

Mining 6.1 –

Process and Infrastructure 32.4 –

Owner’s Cost 22.0 –

Subtotal 60.5 –

Working Capital 56.0 –

Total 3,502.2 2,935.5

Proposed Expansion - Estimated Cost

1,3200 -

Estimated Capital and Operating Costs

Key Operating Costs Capital Costs

Transport and Handling

Rail to port (US$/wet t) 17.9

Port handling & loading (US$/wet t) 7.8

Insurance (US$/dry t) 0.74

Ocean freight (US$/wet t) 50.0

Supervision & assaying (US$/dry t) 0.35

Mine Life Average Operating Unit Cost

Mining ore and waste (US$/t of material moved) 1.66

Processing (milling) (US$/t of ores milled) 5.28

Molybdenum plant (US$/t of molly oxide produced) 3,612.0

Processing infrastructure (US$/t of ores milled) 0.06

Processing G&A (US$/t of ores milled) 1.42

Source Behre Dolbear

Notes 1. Owner’s cost consists of costs associated with force majeure events, project insurance, social outreach, contract services, licenses

and royalties, financial costs, taxes, exchange rate fluctuations, commissioning and pre-operational costs, acquisitions of property 2. Additional projects consist of the costs incurred in relation to the lime processing plant, Kingsmill Tunnel water treatment plant,

double circuit overhead transmission line, central highway relocation, investment in the Callao port and the acquisition of certain mining concessions from Pan American Silver with the relevant financing interest

US$MM

18

2,419

400

140130227

276

2,936

567

3,5923,502

0

1,000

2,000

3,000

4,000

Funding Estimated Capex

Eximbank credit facilities COH equity contribution Incurred capital expenditure as of June 30, 2013Loan from COH

CDB credit facilities CDB loan commitment IPO net proceeds Estimated remaining capex of the Project

Total Estimated Capex

Total Funding

Capital Expenditure

Total Funding vs. Estimated Total Capex

US$MM

Notes 1. Obtained additional US$419 million credit facility from Eximbank in March 2013, in addition to the original US$2 billion facility 2. US$118 million credit facility obtained in 2012, an additional US$12 million credit facility obtained in June 2013 3. In the process of negotiating a credit facility of US$227.0 million with China Development Bank, who has issued a memorandum indicating its present commitment to provide the financing 4. Original COH loan amount was approx. US$234MM, US$103 million from IPO proceeds has been used to repay the loan in February 2013 5. Of the US$394 million IPO proceeds, 30% of which, originally to be used for M&A purposes, has ben reallocated for the Proposed Expansion in the near future. This portion is not included in the funding calculations

(1)

(3)

(4)

(2) (5)

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Appendix A

Toromocho Project Overview

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Project Overview

Project Location

Toromocho Project

LIMA JUNIN

HUANCAVELICA

PASCO

The Toromocho Project is located in central Peru, approximately 140 kilometers east of Lima and in the Morococha mining district, Yauli-La Oroya Province. The mining town of Morococha is roughly 2.5 kilometers from the deposit. A paved highway and railroad from Lima pass through Morococha. The region has steep topography with elevations over the deposit ranging from 4,700 meters to over 4,900 meters above sea level

The Project obtained Environmental Impact Assessment approval in December 2010, and obtained construction permit in July 2011. We expect to commence production in 4Q2013, and reach full production capacity by 3Q2014

The Project consists of: • open pit mining operations supporting 117,200tpd of ore (strip ratio

0.79:1) • SAG mill/ball mill/flotation processing plant with a life-of-mine

average daily production rate of 1,838 tonnes of 26.5% copper concentrates

• a separate molybdenum hydrometallurgical plant producing chemical grade molybdenum oxide which enjoys a price premium over technical grade molybdenum trioxide (MoO3)

• plan to procure additional equipment to increase our designed ore processing rate by approximately 26% to 148,000 tonnes per day

Estimated mine life of 26 years according to the latest Expansion plan

Mining Assets

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Grade Contained Metal Category Ore (Mt) Cu (%) Mo (%) Ag (g/t) Cu (Mt) Mo (t) Ag (t) Proved 756 0.51 0.02 6.39 3.9 150,000 4,800

Probable 784 0.434 0.018 7.31 3.4 140,000 5,700

Total Reserves 1,540 0.471 0.019 6.86 7.3 290,000 10,500

Measured 156 0.41 0.014 6.20 0.6 22,000 1,000

Indicated 364 0.36 0.012 6.06 1.3 44,000 2,200

Inferred 174 0.46 0.015 11.54 0.8 26,000 2,000

Total Resources 694 0.396 0.013 7.47 2.7 92,000 5,200

Mineral Reserves and Resources

2nd Largest Pre-production Copper Mine by Ore Reserve (2)

541 473 368 285623642

1,2751,3681,540

2,319

0

1,000

2,000

3,000

CobrePanama

Toromocho Oyu Tolgoi Sierra Gorda Antuocya HighlandValley

Extension

Antapaccay Lomas BayasII

PumpkinHollow

Mina MinistroHales

Mt

JORC Resources and Reserves (1)

Notes 1. Mineral resources are in addition to ore reserves 2. Measured by proved and probable copper ore reserves among the top 20 firm copper mining projects scheduled to commence production of copper concentrate from 2012 to 2016

Source CRU

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Infrastructure

• The distance from Lima to Morococha is approx. 142 km by highway and approx. 173 km by railroad

• The existing railroad has capacity to transport the commodities produced to the Callao port and will be used for the delivery of consumables to the Project site

Highway/Railroad

• Transportadora Callao, in which we hold a 7% stake, is constructing specialsed copper concentrate facilities at the Callao port, which will have processing capacity of 3 million tonnes of cargo per annum

Port

• Packaged sewage treatment plants are provided for the accommodation camp, the administration building, the mine truck shop building and the concentrator plant

Sewage Treatment

• We have constructed the Kingsmill water treatment plant and commenced operations in 2010. Kingsmill will provide sufficient water supplies for the operation of the Project

Water

• Power supply will be provided from Pomacocha

• Double-circuit 220kV overhead transmission line will be installed and routed from the Pomacocha substation to the main substation at the plant site, and is expected to be ready in September 2013

Power

• Warehousing will be located in the maintenance shop building adjacent to the concentrator

Warehousing • Contains four drive-through bays, each with two truck service stations, so that up to eight trucks can be serviced at any given time

Mine Truck Shop

• The construction camp will initially house up to 6,000 construction workers and later be converted at the end of the construction activities to a permanent facility for administrative, mining and plant operating personnel

Construction Camp

Development Plan

The Proposed Expansion

Key Milestones Development Plan Overview

• We plan to employ a SAG mill/ball mill/flotation processing plant with a life-of-mine average daily production rate of 1,838 tonnes of 26.5% copper concentrates

• The Toromocho Project can be mined for 26 years, according to the last Expansion plan

• Construction of the processing mill and the transport system commenced after we received the construction permit in July 2011. We expect to complete the construction by 4Q2013

Start Finish Pre-Permit Activities May 01, 2009 May, 2012 Procurement October 02, 2008 June, 2011 Detailed Engineering October 02, 2008 April, 2012 Hydrometallurgical Plant August 29, 2011 End of October, 2013 Contracts Formation October 06, 2008 November, 2012 Pre-Production Stripping April, 2013 End of October, 2013 Pre-Commissioning August, 2013 End of October, 2013 Mechanical Completion End of October, 2013

Construction and the Acquisition of Machinery and Equipment

• Some areas in the Toromocho Project have built-in capacities to handle the additional 45% increase in capacity • In other areas of the Toromocho Project, the Company intends to construct buildings and structures for ancillary

facilities and to acquire and install machinery and equipment for the Proposed Expansion • It is expected the above will commence from the third quarter of 2013

Capital Expenditure and Operating Costs

• The total capital expenditure for the Proposed Expansion is expected to be ~US$1.32 billion • The Company does not expect to have any increase in unit operating cost in respect of the Proposed Expansion

over and above that of the Toromocho Project

Community Relations and Resettlement

• The Company currently does not expect there to be further resettlement required for the Proposed Expansion

Summary of the Proposed Expansion

• The capacity of the Toromocho Project is expected to increase by 45% under the Proposed Expansion • The Company expects the increased production resulting from the Proposed Expansion to commence in around

the third quarter of 2016 • The life of the mine in respect of the Proposed Expansion is currently expected to be approximately 26 years • We expect the construction will commence from the third quarter of 2013

23

24

Appendix B

Industry Overview

15,917 16,151 16,183 16,773 18,164 20,108 21,496 21,521 21,478 21,180

0

10,000

20,000

30,000

40,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018China World ex-China

17,362 19,306 19,747 19,697 20,634 21,665 22,644 23,480 24,203 24,945

0

10,000

20,000

30,000

40,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018China World ex-China

25

Robust and Sustainable Copper Demand

Refined Copper Demand

Global Copper Mine Production

kt

kt

Robust Copper Demand from China

Construction Sector • The construction sector accounts for about 1/5

of overall China’s copper demand; with Chinese government’s continued urbanization efforts, the construction sector will retain its high demand for copper in the near to medium term

Transportation Sector • The transportation sector accounts for about

1/10 of China’s copper demand and is providing support to demand in both the short and medium to long term

Power Section • The power sector accounts for about 1/3 of

overall China’s copper demand, with power cable being the most important subsector; the positive outlook of the power sector driven by the electricity generation, transmission and distribution will translate into a significant copper demand

Source Wood Mackenzie, Broker Reports

Brokers’ View • Brokers’ channel checks suggest that copper

end-demand markets in China such as power infrastructure, white goods and autos, all at double-digit growth for 2H13. The domestic spot market remains tight as shown by strong premiums

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Copper Price Performance and Outlook

Copper Price Forecast YTD Metals Price Performance

$/lb, Rebased to Copper $/lb

(13.1%)

(28.4%) (20.5%) (20.1%)

(28.5%) (33.5%)

2.0

2.5

3.0

3.5

4.0

4.5

1-Jan-13 13-Feb-13 28-Mar-13 10-May-13 24-Jun-13 6-Aug-13

Copper Nickel Zinc

Lead Aluminium Gold

2013E 2014E 2015E 2016E 2017E

Broker 1 3.42 3.53 3.30 3.30 3.27

Broker 2 3.40 3.40 3.30 3.10 3.00

Broker 3 3.37 3.30 3.30 3.50

Broker 4 3.26 3.00 3.00 3.00 2.60

Broker 5 3.40 3.30 3.00 3.50 4.00

Broker 6 3.30 3.19 3.20 3.08

Broker 7 3.36 3.35 3.35 3.20

Broker 8 3.48 3.48 3.50

Broker 9 3.38 3.20 3.32 3.63 3.47

Broker 10 3.26 2.97 3.08 3.41 3.57

Broker 11 3.27 2.95 3.09 3.13 3.18

Broker 12 3.30 3.25 3.00 2.75

Broker 13 3.24 3.30 3.50 3.50 3.50

Broker 14 3.60 3.50 3.00

Broker Consensus (Average)

3.36 3.27 3.21 3.26 3.32

• Year to date, Copper price has been relatively stable compared with other base metals and precious metals • For the next five years, broker consensus forecasts the copper price to be stable in the range of $3.2-3.4/lb