Alcoa Corporation Advances Mosjøen Growth with $65M Investment, due to rising demand and local support

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As announced by Alcoa Corporation, one of the world's most sustainable aluminium producers, on May 11, it will be investing USD 65 million to enhance its foundry production capabilities. This will be possible by incorporating recycled materials into the casting process at its Mosjøen smelter in Norway.

With this investment, the firm aims to strengthen its position by enabling the delivery of low-carbon aluminium products, which will benefit consumer demand in the key market. This will be done by the firm, for the first time, by integrating post-consumer recycled aluminium into its offerings.

In the last six years, the firm has initiated a total investment of USD 180 million for upholding sustainable and growth-focused capital at its smelter. Moreover, an additional investment of USD 65 million will also be initiated by the firm for expansion and upgradation of the Mosjøen casthouse. This way, it shall have an increased production capacity of 75 thousand tonnes.

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With this investment, the firm is highly committed to adapting and driving change to meet evolving consumer needs, especially given the rising demand for recycled content in industries like automotive and packaging. This will be aligned with strengthening its competitive edge in Europe as well.  

Additionally, this investment will also introduce a new open mold foundry casting line, melting furnaces, and various enhancements to the casthouse. The aim here is to support the increased capacity for which the initial investment has been made by the firm.

Alongside this, the upgrade will enable diversification of the foundry alloy portfolio, which will allow greater flexibility in ingot sizes and formats, a wider range of alloys, and improved capabilities for recycled content.

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Alcoa President and CEO, William F. Oplinger, said, "This investment places Alcoa at the forefront of delivering low-carbon aluminium while creating long-term value for our customers and shareholders. The increased capacity, combined with recycling capabilities, positions Mosjøen as a cornerstone of low-carbon aluminium supply across Europe."

Mosjøen is deemed to be one of the biggest industrial employers in Northern Norway. This is because it provides nearly 700 direct jobs and creates positive impacts on the region. Now, with this new investment, additional job creation, long-term industrial activity and enhanced expertise in the Helgeland area will be possible. This will be done while benefiting all the local suppliers and contributing to the broader industrial value creation across Norway.

As a vital part of the European aluminium value chain, Mosjøen plays a crucial role in providing materials to the EU market, backed by stable and predictable conditions, including competitive long-term power agreements that enhance the site’s competitiveness and future investment opportunities.

The upgrade project is planned to unfold in phases, with commissioning and ramp-up expected to continue through 2028.

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