25 JULY 2014www.fastmarkets.com
Ma’aden targets Sept to start aluminium smelter in Alcoa JV
Edited by : AL CIRCLE
1 min read
Saudi Arabian Mining Company (Ma’aden) announced that 1st September 2014 would be the target date for the beginning of the commercial production of the Aluminum Smelter at its subsidiary Ma’aden Aluminum Company.
Ma’aden Aluminum Company is a joint venture (JV) between Saudi Arabian Mining Company and aluminium producer Alcoa, with the former holding a majority stake of 74.9 percent.
The $10.8 billion joint project is designed to produce 740,000 tonnes per year through the aluminium smelter and is claimed to be the lowest cost aluminium production complex within Alcoa.
In its project factsheet, Alcoa said that the “Ma’ade-Alcoa JV will help further lower Alcoa’s overall cost-base as it takes it highest cost smelting capacity offline and shifts production to lower-cost refining facilities”.
The fully integrated project includes a bauxite mine, an alumina refinery, smelter and rolling mill. The smelter and rolling mill have already begun operations in 2013 while the alumina refinery will come on stream in 2014.
Ma’aden Aluminum Company is a joint venture (JV) between Saudi Arabian Mining Company and aluminium producer Alcoa, with the former holding a majority stake of 74.9 percent.
The $10.8 billion joint project is designed to produce 740,000 tonnes per year through the aluminium smelter and is claimed to be the lowest cost aluminium production complex within Alcoa.
In its project factsheet, Alcoa said that the “Ma’ade-Alcoa JV will help further lower Alcoa’s overall cost-base as it takes it highest cost smelting capacity offline and shifts production to lower-cost refining facilities”.
The fully integrated project includes a bauxite mine, an alumina refinery, smelter and rolling mill. The smelter and rolling mill have already begun operations in 2013 while the alumina refinery will come on stream in 2014.
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