Noranda obtains court approval to sell aluminum smelter and facilities in New Madrid, Missouri to ARG International AG

Noranda Aluminum Holding Corporation today announced Court approval for the sale of the Company's aluminum smelter and facilities in New Madrid, Missouri, to ARG International AG for a purchase price of $13.7 million. The Court approval follows an auction that took place on September 28, 2016. The Company expects to close the transaction in October 2016, subject to certain closing conditions.

Noranda's alumina refinery in Gramercy, Louisiana, and bauxite mining operation in St. Ann, Jamaica, were not included in the auction for the New Madrid aluminum smelter and facilities. With respect to its bauxite and alumina operations, Noranda continues to explore strategic alternatives, including discussions with potential acquirers. Agreements, if any, from these discussions would remain subject to auction and court approval.

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Additional information is available on the restructuring page of the Company's website. Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company's claims agent, Prime Clerk. The Company has also established a Restructuring Hotline at 855-410-7360 (U.S.), or 646-795-6965 (international), as well as a Customer Hotline at 855-252-2156 (U.S.), or 917-651-0441 (international).