The controlling shareholder of Aluminum Corporation Of China Limited (ASX: 601600) has announced a substantial plan to increase its stake in the company.

According to a company statement, the controlling shareholder, China Aluminum Corporation Group (CAC), along with parties acting in concert, intends to purchase additional A-shares and H-shares of the company.

The planned purchases will be executed through the trading systems of the Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited.

The total investment for this share acquisition is set to be no less than RMB 1 billion and no more than RMB 2 billion.

The number of shares to be purchased will not exceed 2% of the company's total issued share capital.

This share purchase initiative is scheduled to be completed within a 12-month period starting from the date of the announcement's disclosure.