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Century Aluminium decided against acquiring Burnside alumina refinery
Edited by : AL CIRCLE
1 min read
Century Aluminium kicked the tires at Ormet Corp’s alumina refinery in Burnside but decided against acquiring the facility.
“We take a look at everything ... and we took a look at this one,” Michael A Bless, Century president and ceo, said during a conference call with analysts, noting that the Chicago-based aluminium producer has a short alumina position.
Century opted not to make an acquisition after crunching the numbers on the refinery, Bless said. Even at current alumina prices and historically low natural gas prices, Century found the Burnside refinery was “not an economic facility. [...]It just doesn’t dollar out,” he said.
Bankrupt Hannibal, Ohio-based aluminium producer Ormet is seeking court approval to sell its Burnside alumina refinery to Almatis Inc for $35.3 million.
Ormet has said it wants to sell the Burnside refinery as a going concern. The refinery, which can produce 540,000 tonnes of smelter-grade alumina at full capacity, has been on hot-idle status since October 14, which should allow it to return to production quickly.
In contrast, Ormet’s Hannibal smelter, capable of producing 270,000 tonnes of primary aluminium per year, is idle.
“We take a look at everything ... and we took a look at this one,” Michael A Bless, Century president and ceo, said during a conference call with analysts, noting that the Chicago-based aluminium producer has a short alumina position.
Century opted not to make an acquisition after crunching the numbers on the refinery, Bless said. Even at current alumina prices and historically low natural gas prices, Century found the Burnside refinery was “not an economic facility. [...]It just doesn’t dollar out,” he said.
Bankrupt Hannibal, Ohio-based aluminium producer Ormet is seeking court approval to sell its Burnside alumina refinery to Almatis Inc for $35.3 million.
Ormet has said it wants to sell the Burnside refinery as a going concern. The refinery, which can produce 540,000 tonnes of smelter-grade alumina at full capacity, has been on hot-idle status since October 14, which should allow it to return to production quickly.
In contrast, Ormet’s Hannibal smelter, capable of producing 270,000 tonnes of primary aluminium per year, is idle.
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