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Alcoa signs MoU with Angola to explore 750,000 mt/y aluminium smelter
Edited by : AL CIRCLE
1 min read
Alcoa, the largest U.S. aluminium producer, said it had signed a memorandum of understanding with the government of Angola to explore development of a 750,000-metric-ton-per-year smelter.
The aluminium smelter could use power from hydroelectric facilities under consideration by the government, and both sides will begin a series of feasibility studies to determine the viability of the project, Alcoa said in a statement on Thursday.
The agreement provides for a 12-month exclusivity period to negotiate a power contract and cooperation agreement.If the project moves forward, first metal from the smelter would be produced in 2020.
Angola has committed to allocate 1,300 megawatts of firm power capacity for the aluminium industry, Alcoa said.
"Alcoa is interested in pursuing projects that lower our cost position," said Ken Wisnoski, president of Alcoa's Growth group.
Electric power accounts for about 27 percent of Alcoa's primary aluminium production costs. The company generates about 23 percent of the power used at its smelters worldwide.
The aluminium smelter could use power from hydroelectric facilities under consideration by the government, and both sides will begin a series of feasibility studies to determine the viability of the project, Alcoa said in a statement on Thursday.
The agreement provides for a 12-month exclusivity period to negotiate a power contract and cooperation agreement.If the project moves forward, first metal from the smelter would be produced in 2020.
Angola has committed to allocate 1,300 megawatts of firm power capacity for the aluminium industry, Alcoa said.
"Alcoa is interested in pursuing projects that lower our cost position," said Ken Wisnoski, president of Alcoa's Growth group.
Electric power accounts for about 27 percent of Alcoa's primary aluminium production costs. The company generates about 23 percent of the power used at its smelters worldwide.
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