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Orbite starts construction of Quebec high purity alumina plant
Edited by : AL CIRCLE
1 min read
The Montreal company said its technology will ultimately revolutionized the way that alumina is produced, be it high-purity or smelter grade.
Orbite Aluminae Inc. said it has begun construction of a high purity alumina plant in the Gaspe region of Quebec.
The company said in a press release that the work will be completed before the end of 2012, and commercial production is slated to begin in early 2013. Orbite estimates that the plant will produce three tonnes of high-purity alumina per day in the 12 months that follow its commissioning.
“This transition “from words to action” represents an investment of $26 million to $30 million after refundable tax credits,’’ the company said in a press release. It added that its Orbite technology will ultimately revolutionized the way that alumina is produced, be it high-purity or smelter grade.
Alumina is a fine white powder which is produced when bauxite ore is proceeds to separate elements of aluminum oxide and iron oxide. Alumina is transformed into aluminum metal in the smelting process.
Trading at $1.95 on Friday, Orbite Aluminae has a market cap of $348.6 million, based on 178.7 million shares outstanding. The 52-week range is $4 and $1.28.
Orbite Aluminae Inc. said it has begun construction of a high purity alumina plant in the Gaspe region of Quebec.
The company said in a press release that the work will be completed before the end of 2012, and commercial production is slated to begin in early 2013. Orbite estimates that the plant will produce three tonnes of high-purity alumina per day in the 12 months that follow its commissioning.
“This transition “from words to action” represents an investment of $26 million to $30 million after refundable tax credits,’’ the company said in a press release. It added that its Orbite technology will ultimately revolutionized the way that alumina is produced, be it high-purity or smelter grade.
Alumina is a fine white powder which is produced when bauxite ore is proceeds to separate elements of aluminum oxide and iron oxide. Alumina is transformed into aluminum metal in the smelting process.
Trading at $1.95 on Friday, Orbite Aluminae has a market cap of $348.6 million, based on 178.7 million shares outstanding. The 52-week range is $4 and $1.28.
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