Hindalco Industries has terminated its proposed USD 125 million acquisition of US-based speciality alumina producer AluChem Companies after extended delays in closing the transaction. The decision ends a deal announced in June 2025, although Hindalco says its speciality alumina expansion strategy remains firmly in place. Hindalco Industries has called off its proposed acquisition of AluChem Companies Inc., bringing an end to its planned USD 125 million entry into the US-based speciality alumina producer. The Aditya Birla Group's metals flagship and AluChem have jointly decided to terminate the Equity Purchase Agreement (EPA) following prolonged delays in completing the transaction. According to Hindalco's regulatory filing, the delays were beyond the control of either party. "The proposed...
The US September consumer confidence index plunged 6.7 points to 81.9, the lowest since 2014 and deteriorating across the board. The University of Michigan survey showed consumers' assessments of their current financial situation and that one year ahead both fell about 10 per cent, with high-price concerns continuing to brew. Inflation pressure showed no signs of easing. US Fed Governor Cook said AI demand growth, rising oil prices, and supply chain disruptions from Middle East conflicts would keep inflation under pressure, but gave no clear guidance on rate hikes. CME data showed the market-implied probability of a 25 bp rate hike in October had risen to 70.9 per cent, and the probability of a cumulative 50 bp hike by December reached 58.7 per cent. Tightening expectations strengthened...
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Following the disappearance of an employee of Bosai Mineral, Linden, Region 10, residents protested at the company's office, calling for the complete halt of bauxite mining on March 12, 2023. Neptrid Hercules, a company operator for the last 40 years, went missing in the early hours of Saturday. He is now presumed dead after a plot of land he was working on devoured him and the bulldozer he was driving. Despite the fact that a search and rescue operation was immediately launched, the man and the equipment are still missing more than 24 hours later. Hercules was working with a bulldozer to clear a plot of land when it caved in, according to reports. The man and the bulldozer are thought to be trapped several feet underground. On March 11, 2023, company employees used heavy machinery to...
According to the US Census Bureau survey, the United States imported 508,000 tonnes of alumina in the fourth quarter of 2022, which reflected a significant rise of 63,000 tonnes or 25.39 per cent quarter-on-quarter from 445,000 tonnes. On a year-on-year calculation, the United States alumina imports in Q4 2022 soared by 97,000 tonnes or 35.77 per cent from 411,000 tonnes. In the year's second half, the United States imported 953,000 tonnes of alumina, up by 2.58 per cent from 929,000 tonnes in H1 2022 and 27.58 per cent more than 747,000 tonnes in H2 2021. In the full year 2022, the United States sourced 1.88 million tonnes of alumina, which recorded a year-on-year increase of 21.29 per cent from 1.55 million tonnes, found the USGS data. In the fourth quarter of 2022, Brazil continued as...
Scotland's Deposit Return Scheme (DRS), in collaboration with their logistics service partner, Biffa, will introduce 140 new job opportunities in Motherwell. Biffa will invest almost £80 million to formulate an infrastructure suitable for rallying out the scheme. This will largely help collect, sort and recycle plastic, glass and aluminium beverage packaging options in the area. This investment will be crucial in restructuring the once-parcel depot at the Eurocentral industrial park into a high-technology equipped recycling centre. Packaging solution providers that contribute almost 95 per cent of Scotland's containers and packaging modules have already registered for this noble drive. SEPA, the programme's conductor, has declared registrations will remain open until the official launch...
The Government of Newfoundland and Labrador assists a local social business in the environmental and recycling sector to create a method for composting and recycling liquid waste. Beer cans made of aluminium that were discarded or were not meant to be sold on the open market are increasingly being managed by Ever Green Environmental. These cans are generally thrown away as garbage. For the same, the South Carolina-based Ever Green Recycling received a provincial contribution of $69,000 through the Innovation and Business Investment Corporation in non-repayable funding. The announcement of the same was made by Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology. "This project will enable Ever Green to diversify its social enterprise and attain more stability,...
Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter ex-China, has reportedly announced to have secured sustainable financing loan of BD 1.6 million from the Bank of Bahrain & Kuwait (BBK) for its Solar Farm Project. The news came on March 12, 2023, after Alba's CEO Ali Al Baqali and BBK's Group CEO Dr A Rahman Saif signed the documents at Alba's Al Dana Hall in the presence of other senior officials from both parties. Alba will utilise the financing loan in setting up its Solar Farm with a capacity of more than 6 Megawatts (MW), including the installation of about 11,300 photovoltaic solar panels on the rooftop of Alba car parks, Spent Pot Lining (SPL) Treatment Plant, and other buildings. Ali Al Baqali said, "Our vision goes beyond the Aluminium we produce or the...
A00 aluminium ingot price has slumped by RMB 10 per tonne, officially closing at RMB 18,220 per tonne, as the Shanghai Metals Market recorded on March 13. The average prices are expected to range between RMB 18,200 per tonne and RMB 18,240 per tonne, with spot contracts trading at discount prices of RMB 70 per tonne and RMB 30 per tonne. The provinces in China more or less have experienced stagnancy today, with the aluminium prices in Foshan and Shenyang remaining posted at RMB 18,250 per tonne each, whereas, in Hangzhou, it stood RMB 10 per tonne up at 18,260 per tonne. In Gongyi, the aluminium price remained halted exactly as it was last week on Friday at RMB 18,180 per tonne, whereas the aluminium price in Chongqing stood at RMB 18,320 per tonne with no notable change at all. Only in...
As soon as the Canadian Government declared a total ban on Russian aluminium, with an immediate effect on March 10, it received support from the Aluminum Association of Canada (AAC). Jean Simard, President and CEO of the AAC, said: "This ban by the Canadian government closes the door on imports from Russia." He added, "Our industry joins the rest of the free world in condemning in the strongest terms the Russian invasion of Ukraine. We support the use of economic sanctions and other measures as a diplomatic tool to combat Russian aggression and applaud the determination of the Government of Canada and the Deputy Prime Minister and Minister of Finance to work with allies to achieve this." On March 3, 2022, Canada levied tariff measures consistent with the removal of Most Favoured Nation...
LME aluminium opened at US$2,324 per tonne last Friday and fell to US$2,285 per tonne before closing at US$2,306 per tonne, down 0.58 per cent. On Friday, March 10, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$42 per tonne or 1.83 per cent to settle at US$2,248 per tonne and US$2,249 per tonne. 3-month bid price and 3-month offer price slumped by US$38.5 per tonne or 1.64 per cent and US$38 per tonne or 1.62 per cent to close at US$2,297 per tonne and US$2,297.50 per tonne. December 24 bid price and December 24 offer price decreased by US$38 per tonne or 1.49 per cent and 1.48 per cent to stand at US$2,510 per tonne and US$2,515 per tonne. LME aluminium opening stock settled at 548375 tonnes. Live warrants and Cancelled warrants closed at...
The Australian mining and exploration company Metro Mining Limited has revealed that it has entered into a facility agreement with US-based resource project financier Nebari Holdings' Nebari Natural Resources Credit Fund I, LP and Nebari Natural Resources Credit Fund II, LP for a Financing Facility of up to US$30 million (Financing Facility). Proceeds from the Financing Facility allow funding to expand the Company's 100 per cent owned and operating Bauxite Hills Mine in Western Cape York, Queensland. A drawdown notice has been submitted for US$20 million (A$30 million), with a further US$10 million (A$15 million) available subject to meeting certain conditions precedent. However, there are no principal repayments for the first twenty-four months, and Metro can capitalise on the first six...
A request to investigate Cosmos Aluminium, a Greek company, and its proposed acquisition of Etem Commercial and Industrial Light Metals, a division of Elvalhalcor Hellenic Copper and Aluminium Company JSC, was made public by the Bulgarian Competition Authority on Monday. Magellan Aerospace Company announced its intent to collaborate with Collin Aerospace under a long-term agreement (LTA) to produce complicated magnesium and aluminium castings for various applications in the military, defence, and commercial aerospace industries. Granges Powder Metallurgy, also known as JD Technologies Worldwide, LLC in the USA, and Keselowski Advanced Manufacturing (KAM) announced their cooperation. The corporation's ability to provide precisely tailored additive manufacturing solutions using DISPAL®...
Sustainable water brand Open Water has declared its collaboration with the Academy of Motion Picture Arts and Sciences to provide water in aluminium bottles or cans during the Oscar Awards on March 12. This action is to decrease the amount of one-time-used plastic bottles in a social event, which in turn, propagates environmental etiquette and brings a globally accepted ceremony closer to the Net Zero goals set by the European Union. Through the prestigious Academy Awards, Open Water has plotted to initiate the good practice of using refillable aluminium bottles for water. We have already seen examples of celebrities promoting aluminium use or reuse and how it has yielded exciting results in the past. The Co-founder of Open Water, Jess Page, exemplifies: “We started Open Water with the...
The Indian state of Gujarat's Appellate Authority for Advance Ruling (AAAR) has held that Goods and Service (GST) would apply to supply aluminium foil-type winding inverter duty transformers and components. Shilchar Technologies Limited, the appellant, manufactured power, distribution, electronics, and telecommunications transformers. The Ministry of New & Renewable Energy has given The Adani Green Energy Ltd (AGEL) the go-ahead to design and establish a solar project (UPNEDA Project) in Chitrakoot, Uttar Pradesh. The appellant secured a supply order from AGEL for 'Aluminium Foil Type Winding Inverter Duty Transformers' (IDT) along with the mandatory spares for transformers. The applicant has solicited the advanced ruling on whether the supply of the aluminium foil type winding inverter...
The recycled aluminium sector has experienced vast evolutions this week, with German car brand Audi creating a 'MaterialLoop' in collaboration with 15 associates from the supply, recycling and research depots to impose a closed raw material (e.g. aluminium) circulating loop along the automobile industry. On a jovial note, Rio Carnival 2023 has broken the Guinness World Record for arranging the world’s largest aluminium recycling programme. In the past weeks, many other major organisations with their footfall across the globe have accommodated a commendable transformation to embrace Net Zero. Industrywide, there is an urge to adopt various methods of recycling scrap material. At the same time, we see a definite rise in the non-profit, social side of aluminium awareness because of its 100%...
Scientists at the Southern University of Science and Technology (SUSTech), the International Quantum Academy, and other institutions in China have developed low-loss interconnects for connecting the various modules of modular superconducting quantum processors. These interconnects are built on impendence transformers and pure aluminium wires. To construct his innovative low-loss interconnects, Zhong custom-ordered pure aluminium coaxial cables and merged them with on-chip impedance transformers. The resultant interconnects were easier to wire-bond to quantum processors and had a much lower loss (by one order of magnitude) than conventional interconnects built using NbTi cables. Zhong attempted to connect two quantum computers in one of his earlier research using NbTi superconducting...
The Industrial Demonstration Program, funded by President Biden's Bipartisan Infrastructure Law and Inflation Reduction Act, will concentrate on the industries with the highest emissions where decarbonization technologies will have the biggest impact, such as aluminium, cement and concrete, iron and steel, and other energy-intensive industrial processes. Charles Johnson, president and chief executive officer of the Aluminum Association, praised the Biden administration's commitment to assisting in further decarbonization of the aluminium industry following the announcement of $6 billion in funding to accelerate the decarbonization projects in energy-intensive sectors. The White House convened a roundtable conversation on industrial innovation, decarbonization, and how America must advance...
Ball Corporation, a global supplier of innovative and sustainable aluminium packaging solutions for beverage, personal care and household products, has reportedly elected Daniel W. Fisher as chairman of the board. Mr Fisher has been serving Ball Corporation as president and chief executive officer, and now his new post will come into effect from April 26, 2023, replacing John A. Hayes, who has served as chairman since 2013. Mr Fisher is the president of Ball Corporation and a board member since January 2021, and from 2022, he is contributing to the role of CEO. For over 13 years, he has been associated with Ball in various leadership positions. From 2016 to 2021, he served the company as a senior vice president and chief operating officer of the global beverage business, and then in 2021,...
This week the aluminium end-user sector has seen notable advancements with the Tata Tiago EV vehicle prototype being displayed at Auto Expo India 2023, which has been the Indian-Israeli collaboration between Tata and Phinergy to test the latter’s aluminium-air batteries. Novelis Inc. has opened a new Customer Solution Center (CSC) to enhance the beverage packaging sector in São José dos Campos, Brazil. The Ghana International Trade Commission (GITC) has refrained from negating the 35.77 per cent Anti-Dumping Duty (ADD) laid on shipments of imported Chinese aluminium coils and circles by the Asadtek Group of Companies. Audi recently launched its Dakar-inspired mountain electric bike, which features a robust yet lightweight aluminium framework. Goyal Aluminium has declared venturing into...
On March 10, 2023, Canada prohibited the importation of all Russian aluminium and steel products in a move that the nation stated aimed to deny Russia's ability to fund the Russia-Ukraine geopolitical crisis. Chrystia Freeland, Finance Minister, stated that Canada would do everything to cut off or limit the Russian revenue used to fund the crisis. The ban covers both finished and unfinished products of aluminium and steel. However, it would impact importing products such as aluminium sheets and containers, steel tubes and pipes. On February 24, 2023, the United States administration declared the imposition of a 200 per cent import tariff on aluminium and derivatives produced in Russia from March 10, 2023, in response to the ongoing Ukraine-Russia geopolitical, the world's largest economy...
