23 JULY 2015Noranda Aluminum Press Release
Noranda reports loss in bauxite segment for second quarter 2015
Edited by : AL CIRCLE
1 min read
Noranda Aluminum Holding Corporation today reported results for second quarter 2015 on July 23, 2015.
Bauxite segment reported a $3.1 million loss in second quarter 2015, a $2.1 million profit in first quarter 2015, and a $1.3 million loss in second quarter 2014.
• Sequentially, Bauxite results primarily reflect the additional bauxite production levy of $5.9 million which resulted from an interim agreement with the GOJ related to the production levy dispute referenced above, partially offset by lower demurrage fees as a result of the completion of the port expansion project at the beginning of the second quarter of 2015.
• Year-over year, Bauxite results reflect the additional bauxite production levy of $5.9 million partially offset by lower fuel costs ($2.5 million), currency benefit ($0.9 million) and lower demurrage fees. Of the $5.9 million increase in the bauxite production levy, $3.0 million was related to shipments in the first quarter of 2015 due to the retroactive increase of the levy under the interim agreement.
Bauxite segment reported a $3.1 million loss in second quarter 2015, a $2.1 million profit in first quarter 2015, and a $1.3 million loss in second quarter 2014.
• Sequentially, Bauxite results primarily reflect the additional bauxite production levy of $5.9 million which resulted from an interim agreement with the GOJ related to the production levy dispute referenced above, partially offset by lower demurrage fees as a result of the completion of the port expansion project at the beginning of the second quarter of 2015.
• Year-over year, Bauxite results reflect the additional bauxite production levy of $5.9 million partially offset by lower fuel costs ($2.5 million), currency benefit ($0.9 million) and lower demurrage fees. Of the $5.9 million increase in the bauxite production levy, $3.0 million was related to shipments in the first quarter of 2015 due to the retroactive increase of the levy under the interim agreement.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Pro Fin Capital's Terra Natural Resources signs agreement with Indo Ferro Metal for bauxite ores supply
Next articlePahang Govt to issue mining licenses to contractors of Felda Bukit Goh
Grow with
AL Circle
