Mytilineos anticipates positive prospect for its alumina business in Greece

The Greek Industrial Group reported on Thursday, May 3, 2018 that Mytilineos, a Greek-based industrial conglomerate whose companies are active in the sectors of metallurgy, energy, and EPC, is expecting a positive prospect for its alumina business in Greece despite surging alumina prices last month on the face of US sanctions against Russian aluminium companies including UC Rusal.

The scarcity of alumina due to partial production shutdown at Norsk Hydro’s Alunorte’s alumina refinery in Brazil, following the bauxite output cut at Hydro’s Paragominas mine, had also created a buzz across the world.

Nevertheless, amid all the muddles in the alumina sector across the world, Mytilineos is keeping hopes on its alumina business. As it reported in a first-quarter trading update, it has vertically-integrated feed and low-cost production, which have shielded it from all the external difficulties and generated positive prospects for its alumina business in the short and medium term.

Mytilineos operates an alumina refinery in Central Greece with an annual production of 820,000 tonnes and aims to boost the capacity further to 1 million tonne by investing US$400 million.

According to the firm, the plant can become a prolific producer of alumina on the continent.