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THINK ALUMINIUM THINK AL CIRCLE
The global primary aluminium segment remained in the highlights for the complete week, with the largest primary aluminium producer in GCC, Emirates Global Aluminium (EGA), which also ranks among the five top aluminium producers in the world, has refinanced $ 5.5 billion corporate debt to further enhance its capital structure. However, in North Africa at another Gulf nation, Egypt, Bechtel Corporation, one of the most respected engineering, construction, and project management companies in the world have concluded the engineering study for the expansion project of Egypt’s largest aluminium smelter Egyptalum.
En+ Group, the largest producer of low-carbon aluminium and the biggest independent hydropower generator, has announced that it has begun the installation of a new impeller at one of its hydraulic units at the Bratsk Hydropower Station.
Norsk Hydro ASA has announced that it's subsidiary Hydro Energi AS signed a new long-term power purchase agreement (PPA) with Hafslund Eco Vannkraft AS for a total supply of 680 GWh. The agreement with Hafslund Eco spans from January 1, 2022, to December 31, 2028, with delivery to price area NO3.
To know more: https://www.alcircle.com/news/hydro-signs-contract-with-hafslund-eco-vannkraft-as-for-a-total-supply-of-680-gwh-70155
The Egyptian Minister of Public Enterprise Sector, Hisham Tawfiq stated that the US firm, Bechtel Corporation, one of the most respected engineering, construction, and project management companies in the world has concluded the engineering study for the expansion project of Egypt’s largest aluminium smelter Egyptalum.
To know more: https://www.alcircle.com/news/bechtel-corporation-concludes-feasibility-study-for-egyptalums-expansion-plan-70099
The aluminium arm of Brazilian conglomerate Votorantim SA is venturing on a shortfall of the metal which is used producing from beer cans to plane parts. Ricardo Carvalho, Chief Executive Officer, CBA said: “Companhia Brasileira de Aluminio plans to invest 4 billion reals in the next five years as it overhauls and expands operations.”
The largest industrial company in the United Arab Emirates outside oil and gas, Emirates Global Aluminium (EGA) has prosperously refinanced $ 5.5 billion of corporate debt, deleveraging and improving repayment terms to lessen costs and validating the best dividend policy in future years for shareholders.
According to China Customs data, imports of aluminium ores and concentrates shrank by 15.7 per cent year-on-year in July 2021 to stand at 9.25 million tonnes. That brought the total imports of aluminium ores and concentrates in the first seven months of 2021 to 64.41 million tonnes, down by 7.1 per cent from a year ago.
South32 published results for the year ended 30 June 2021 (FY21). The Group reported revenue of US$6,337 million for the full year, an increase of 4% from FY20’s revenue of US$6,075. Underlying earnings before interest and tax (EBIT) increased to US$844 million, up 89% from US$446 million in FY20. The Group’s net loss after tax stood at US$195 million, from FY20 net loss after tax of US$65 million.
To know more: https://www.alcircle.com/news/south32-reports-4-hike-in-its-revenue-in-fy21-70137
Marubeni Corporation, a Japanese integrated trading and investment business conglomerate, has made an announcement on Friday, August 20, about its carbon-neutral aluminium ingot sale in Japan. The Tokyo-based trading house has started selling the product in response to customers’ demand and choice in favour of greenhouse gas (GHG) emissions reduction.
To know more: https://www.alcircle.com/news/marubeni-corporation-starts-selling-carbon-neutral-aluminium-ingot-neutr-al-70157
n the Interim Results of 2021, Rusal, the world’s leading aluminium producer, has announced that its aluminium production in the six months ended June 30 stood flat at 1.868 million tonnes compared to 1.867 million tonnes a year ago. However, sales of both primary aluminium and alloys increased 5.8 per cent on-year from 1.890 million tonnes to 2 million in H1 2021, resulting in an increase in revenue by 35.7 per cent from US$ 4,015 million in H1 2020 to US$ 5,449 million in H1 2021.
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has reported that the aluminium ingots production of the nation has escalated by 26.30% during the first four months of the current Iranian year (from March 21 through July 22, 2021), when compared to the same phase existing Iranian year.
To know more: https://www.alcircle.com/news/irans-aluminium-ingots-production-escalates-by-26-in-the-first-four-months-70100
According to a recent report, Rio Tinto and the union will hold another meeting in Vancouver next week to discuss the Kitimat aluminium smelter strike. As the strike enters its fourth week, Rio Tinto and Unifor union have decided to resume negotiations to see if a collective agreement can be renewed.
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