Bell Bay Aluminium (BBA), Australia's oldest aluminium smelter, is reviewing its workforce and offering redundancies for a small number of positions, just over a month after receiving an AUD 200 million (USD 137.52 million) government support package aimed at securing the facility's future until at least 2031. Up to 10 roles are understood to have been affected by the review, although the smelter is expected to retain its existing workforce of approximately 550 full-time equivalent (FTE) employees. Some redeployment opportunities will also be available, while the positions identified are not understood to involve frontline services. The changes reportedly include some former participants in Bell Bay Aluminium's graduate programme. Rio Tinto, which operates the smelter near George Town in...
South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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Aluminium maker national Aluminium Corporation (Nalco) is also scouting for locations in Indonesia to set up a five lakh tonnes per annum smelter as it eyes to rationalise cost of operations and cater to the expected rise in demand. The government had earlier hired consultants to scout for locations for establishing a five lakh tonnes greenfield aluminium smelter and a power plant, where energy is available at competitive prices, a source said. "Based on the study conducted by the consultants, Nalco has identified Oman and Indonesia. Iran is another country that has come up after the US lifted sanctions against it. Nalco CMD T K Chand also met top Iranian officials last month over this," the source added. A senior government official confirmed the development, saying the government has...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading international aluminium smelters, was a key sponsor of the Commodity Research Unit (CRU)’s 21st World Aluminium Conference that took place from 9 to 11 May 2016, at the Westin Bund Hotel, Shanghai, China. Alba’s Chief Executive Officer Tim Murray and Chief Marketing Officer, Khalid Abdul Latif along with key members of the Company attended this three-day event. In his opening address at the welcome reception, Alba’s CEO Tim Murray said: “As the aluminium market stands at a crossroad, we believe that there is an ample growth opportunity for aluminium as a metal in the future on the back of strong market fundamentals. With that in mind, we are much excited to embark on Line 6, Alba’s latest brownfield expansion project, which will...
The Government of India vide Allotment Order dtd. May 02, 2016 have allotted Utkal-D & E Coal Mine in favour of National Aluminium Company Ltd (NALCO). The Allotment Order was issued by the Office of Nominated Authority, Ministry of Coal on behalf of Govt, of India. All the rights, title and interest in and over the land and mine infrastructure of both Utkal-D & E Coal Mines shall stand fully and absolutely transferred and vested in the allotee i.e. NALCO. Shares of NATIONAL ALUMINIUM CO.LTD. is seen trading at INR 42.65 as compared to the previous close of INR 42.8 down 0.2 per cent in BSE. In NSE, the stock has gained 0.5 per cent from a previous close of INR 42.3, and is trading today at INR 42.85.
Aluminum Corporation of China Ltd (Chalco) has no plans to restart two smelters with a combined capacity of about 500,000 to 600,000 tonnes that it shut last year, the company's president said on Tuesday. The firm will maintain an aluminium output target of below 3.3 million tonnes this year, Chalco President Ao Hong also told reporters on the sidelines of a conference in Shanghai.
About 44 per cent of the 23 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. Those neutral players see SHFE 1607 aluminium at RMB 12,300-12,500/mt and LME aluminium at USD 1,570-1,610/mt, citing several reasons. First, the price spread between SHFE 1605 and 1606 aluminium contracts continued expanding, which will dampen buying interest and limit upside room in spot prices. Small spot discounts will offer support to SHFE aluminium . Second, aluminium stocks in China’s five major markets continued falling, albeit at a slower pace. Third, longs might take profit at highs but will also enter after at lows. Another 30 per cent see SHFE 1607 aluminium rising above RMB 12,300/mt and LME aluminium breaking through USD 1,610/mt. First, disappointing US...
Aluminium consumption in China is set to grow by 7 to 10 per cent a year over the next five years and hit 44 million tonnes by 2020, Aluminium Corp of China Ltd (Chalco) President Ao Hong said on Tuesday. At the same event, Russian aluminium producer Rusal said it expected China's aluminium consumption growth to reach 7 per cent this year. About 4 million tonnes of aluminium capacity in China has been shut down since July 2015, Rusal's Deputy Chief Executive Oleg Mukhamedshin said.
China is considering setting up a fund to cope with the closure of aluminium producers and combat volatility in the futures market, Wen Xianjun, Vice Chairman of China Nonferrous Metals Industry Association, said on Tuesday. China's aluminium producers have previously pledged to cut production amid plunging prices for the metal. Aluminium prices on the Shanghai exchange fell for six straight years before staging a pick-up this year. China is the world's top consumer and producer of aluminium. Wen said aluminium prices between 11,780 yuan and 12,000 yuan ($1,806 and $1,840) per tonne would be a reasonable average level for this year. Prices are currently around 11,875 yuan a tonne. In February, six large Chinese aluminium producers said they were considering forming a joint venture company...
Shares of Hindalco, an aluminium producer, have corrected 6 per cent in the last two trading sessions after a sharp fall in the LME aluminium prices. LME aluminium prices have fallen 5 per cent in the last three trading sessions, after rallying strongly in the year till date. Various fundamental and technical indicators suggest that the aluminium prices could correct further, which may not be a positive development for Hindalco. Aluminum inventories globally continue to remain high unlike other metals such as steel, iron ore and zinc. Against an estimated aluminium demand growth of 6 per cent since the beginning of 2015, aluminium inventory has increased by 14 per cent. Major part of this has come in recent months after prices rose. For instance, 50 per cent of the rise in inventory has...
Aluminium stocks in China’s five major markets fell at a much slower pace last week, SMM says. Falling aluminium prices dampened buying interest. Besides, operational aluminium capacity grew in late April due to new capacity release. These explained why inventory decline slowed down, Liu Xiaolei, SMM aluminium analyst said. Release of new aluminium capacity will be quite limited during May and June, though, Liu added. There is still an over 1 million-tpy gap in annualized operational aluminium capacity. This means aluminium destocking will continue, and this will lend support to aluminium prices. The table below shows details of aluminium stocks at China’s five major markets: Unit: 1,000 tonne LME aluminium to remain weak LME aluminium will remain weak at USD 1,580-1,610/mt on Monday, due...
Calcined clay is the most common material used as refractory material (lining of high temperature furnaces). As demand of calcined clay grows manifold, an alternative is needed. The city-based Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) has found a substitute to calcined clay that will reduce the material cost by at least five times. The centre is in the process of using the otherwise unutilized saprolite ore found at the bottom of a bauxite mines. "It is for the first time that saprolite is being used as a refractory material. Centre has already filed a national patent for it. Though the project is still in research stage, it has shown promise. We have tested the material in a furnace at MIDC Hingna over a period of last one year. The upscaling process,...
Testifying to its continuous efforts to push the boundaries of innovation, a submission from Emirates Global Aluminium ("EGA") won the Productivity Award in the 2016 Ideas.Arabia Idea of the Year Competition, held coincident with the Ideas.Arabia 11th International Conference in Dubai at the end of April. The aim of the annual contest is to honour employees and organisations by recognising the most significant ideas implemented in the preceding period. It also provides an opportunity for participating companies to benchmark against other leading organisations, and motivate employees. EGA's award-winning suggestion, entitled "Welding flexible instead of clamping to reduce joint drops", was submitted by Zakir Hussain, Venkateswara Rao, Reejan Joseph, and Syed Fakruddin Jaleel from Cell...
Aluminium Bahrain B.S.C. (Alba)’s - the Bahrain-based international aluminium smelter - Chief Financial Officer (CFO) Ali Al Baqali has been named in the top 50 of the “Who’s Who in Middle Eastern Finance 2016” list announced by the well-known Global Finance magazine. This is a top honour for Ali Al Baqali who is amongst the five CFOs in Bahrain featured in this list. The “Who’s Who in Middle Eastern Finance” is an exclusive annual resource that recognises the 50 most influential, creative, and powerful people in the Middle Eastern business and financial communities. Congratulating Ali Al Baqali, Alba’s Chief Executive Officer Tim Murray said: “It is a moment of pride for us that Ali has been recognised as a one of the leaders in the Region’s financial list. Ali is a highly experienced...
Aluminium fell 0.18 per cent to INR 109.40 per kg in futures trade today after traders reduced their exposure due to sluggish demand at the domestic spot market amid weak trend overseas. At Multi Commodity Exchange, aluminium for delivery in June eased 20 paise or 0.18 per cent to INR 109.40 per kg in a business turnover of 8 lots. The metal for delivery in May, however, was trading flat at Rs 108.70 per kg in 236 lots. The weakness in aluminium futures trading is mostly due to fall in demand from consuming industries at the domestic market and subdued trend overseas, marketmen said.
The Board of Directors of Alcoa today declared a dividend of $6.71875 per share on Alcoa’s 5.375 per cent Class B Mandatory Convertible Preferred Stock (“Class B Stock”) payable July 1, 2016 to holders of record of the Class B Stock at the close of business on June 15, 2016. The dividend on the Class B Stock is equivalent to a dividend of $0.671875 per Depositary Share (each Depositary Share representing a 1/10th interest in a share of Class B Stock).
The annual general meetings of Rio Tinto plc and Rio Tinto Limited were held on 14 April 2016 and 5 May 2016 respectively. All resolutions were passed by poll and the results are set out below. Under Rio Tinto's dual listed companies structure established in 1995, decisions on significant matters affecting shareholders of Rio Tinto plc and Rio Tinto Limited in similar ways are taken through a joint electoral procedure. Resolutions 1 to 17 contained in the notice of meeting for both Rio Tinto plc and Rio Tinto Limited fall into this category. Resolutions 18 to 21 of the Rio Tinto plc notice of meeting were put to Rio Tinto plc shareholders only and resolution 18 of the Rio Tinto Limited notice of meeting was put to Rio Tinto Limited shareholders only. A number of resolutions pertaining to...
According to the USGS Mineral Industry Survey report, only two companies reported domestic production of primary aluminum in February 2016 because of the recent smelter shutdowns. Consequently, production data were withheld to avoid the release of proprietary data. Total aluminum recovered from scrap in February 2016 was 296,000 metric tons, slightly more than that recovered in January and 4% more than that in February 2015. On March 24, Alcoa Inc. shut down the last operating potline at the 269,000-metric-ton-per-year (t/yr) Warrick smelter in Evansville, IN. Alcoa had announced plans to close this smelter citing high power prices and low prices for aluminum. The rolling mill and adjacent power plant would continue to produce (Maltais, 2016). In April, Matalco Inc. started production of...
Aluminium prices fell by 0.32 per cent to INR 109.10 per kg in futures trade yesterday, May 4, after traders reduced their exposure amid muted domestic demand and weak trend in base metals at the London Metal Exchange. At Multi Commodity Exchange, aluminium for delivery in June eased 35 paise or 0.32 per cent to INR 109.10 per kg in a business turnover of just one lot. Also, the metal for delivery in current month traded lower by 25 paise or 0.23 per cent to INR 108.50 per kg in 104 lots. Marketmen said the apart from muted demand from consuming industries at the domestic spot markets, weakness in base metals at the London Metal Exchange (LME) after a private Chinese factory gauge showed contraction for a 14th month and the US manufacturing growth cooled, mainly weighed on aluminium...
The near to medium term outlook of the South-east Asian aluminium producer Press Metal Bhd (Press Metal) remains bright, driven by the increased capacity from its Samalaju Phase 3 project, observed a recent industry report. The integrated aluminium major's Phase 3 smelter in Samalaju is at the tail-end of ramping up and is expected to be fully commissioned in the next few weeks. In addition, Phase 2 of its Samalaju smelter has returned to normal operations in late November 2015 after six months of fire damage repair while the Mukah smelter (Phase 1) continues its regular production. “We expect its aluminium smelting capacity to rise to 760,000 tonnes per annum (tpa) or 1.5 per cent of global primary aluminium production, and sales tonnage to surge 65.7 and 11.8 per cent year-on-year...
