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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Emirates Global Aluminium (EGA) is all set to highligh its corporate commitment to integrity and transparency at the conference of Association of Certified Fraud Examiners Middle East in Dubai, UAE. A joint venture between Abu Dhabi-based Mubadala Development Company and the Investment Corporation of Dubai, EGA is platinum sponsor at the two-day event which kicked off on February 14. The summit is being organised in association with the Financial Audit Department (FAD) of Dubai. Over 300 anti-fraud professionals from around the world - including employees from EGA - will gather at the 2016 ACFE Middle East Fraud Conference to discuss the latest trends and strategies in fraud prevention. The delegates will also have the opportunity to meet high-ranking and reputable speakers from leading...
Japan's aluminium premiums will likely rise to $120-$130 per tonne over April-June from the current quarter's $110 per tonne as falling imports are trimming local inventories, Japanese trading house Sumitomo Corp said on Friday. Japan is Asia's top aluminium importer and the premiums it agrees to pay each quarter over the London Metal Exchange (LME) cash price for primary metal shipments PREM-ALUM-JP set the benchmark for the region. The premiums for January-March shipments are up 22 percent from the last quarter of 2015 on higher overseas rates and shrinking inventory at home. "Aluminium imports will drop further as Japanese trading houses and end-users want to cut their stocks by the end of their business year in March," Shingi Yamagiwa, manager of Sumitomo light metals trading team,...
Engineering major Larsen and Toubro (L&T) said it is likely to get the final clearance from the Odisha government for setting up a 3 million tonnes per annum (mtpa) aluminium plant in Rayagada district in the next 2-3 months. The company is planning to set up a 3 mtpa green field integrated aluminium plant in the state with an estimated investment of INR 12,000 crore. "We had submitted the proposal to the (Odisha) government and we hope we will get the last mile clearance from it in the next 2-3 months," company's senior executive vice-president (power, minerals and metals) Shailendra Roy, told PTI on the sidelines of the Make in India (MII) Week. He further said once the final approval is in place the company will start with the process of land acquisition, designing. "We will start the...
Aluminium prices were up by 0.39% to INR 103.20 per kg in futures trade as traders enlarged positions, driven by pick up in demand at the spot market amid firm global trend. At the Multi Commodity Exchange, aluminium for delivery in March month moved up by 40 paise, or 0.39% to INR 103.20 per kg in business turnover of 10 lots. Likewise, the metal for delivery in February contracts edged up by 30 paise or 0.29% to INR 102.40 per kg in 92 lots. Analysts said increasing of positions by participants due to pick up in demand from consuming industries at domestic spot markets and a firm global trend mainly led to rise in aluminium prices at futures trade. Meanwhile, aluminum gained 0.3% at the London Metal Exchange.
Emirates Global Aluminium ("EGA"), one of the five largest primary aluminium producers in the world, participated at the 2016 Tawdheef career fair from 1 to 3 February at ADNEC in Abu Dhabi, using the event as a platform for recruiting Emirati talent - an integral component of its Emiratization strategy. During the event, representatives of the UAE's industrial flagship met with prospective candidates and shared insights into the employment, work placement and training opportunities available to UAE Nationals. "EGA is one of the largest organisations in the UAE and we support Emiratization in all aspects. We currently employ 1,200 UAE Nationals, a figure we are looking to expand in the coming year," said Ahmed Al Shamsi (Executive Vice President, Human Capital: EGA). "Tawdheef provided a...
National Aluminium Company Ltd posted a net profit of INR 1334.90 mn for the quarter ended December 31, 2015 as compared to INR 3544.70 mn for the quarter ended December 31, 2014. Total Income has decreased from INR 20576.10 mn for the quarter ended December 31, 2014 to INR 17592.80 million for the quarter ended December 31, 2015. National Aluminium Company Ltd ended at INR 32.5, down by INR 1.25 or 3.7% from its previous closing of INR 33.75 on the BSE. The scrip opened at INR 33.65 and touched a high and low of INR 34.6 and INR 31.75 respectively. A total of 605316(NSE+BSE) shares were traded on the counter. The current market cap of the company is INR 8698.19 crore. The BSE group 'A' stock of face value INR 5 touched a 52 week high of INR 52.8 on 11-Feb-2015 and a 52 week low of INR 28...
Russian aluminium producer Rusal said it is considering further production cuts and won’t restart idled smelters, as prices for the lightweight metal trade close to their lowest levels since 2009. The company, controlled by Oleg Deripaska, said it would consider cuts of around 200,000 tonnes per year, writes Henry Sanderson, Commodities Correspondent. The global aluminium market is suffering from a glut of the metal from China, which rapidly built out its production over the last decade. China is likely to add an extra 3m tonnes of new capacity this year and close around 1.5m tonnes, Rusal said. That is a slower growth rate than the last five years, it said. Along with closures outside China Rusal said it expects a 1.2m tonnes market deficit in 2016 compared to a slight surplus last year....
AluSolutions 2016, the only free exhibition and conference addressing sustainability challenges in aluminium production and processing, is excited to announce confirmed speakers from Rio Tinto, Norsk Hydro and Schüco. Taking place on 10th - 11th May 2016 at the Abu Dhabi National Exhibition Centre, the AluSolutions conference will demonstrate how the aluminium industry is making continuous improvements in the environmental efficiency of producing aluminium, as well as its sustainability benefits in end-use applications. The second day of the conference (11th May) will host Dr Fiona Solomon, Aluminium Stewardship Initiative (ASI) Director, as keynote speaker. Dr Solomon brings nearly 20 years of experience in sustainability and corporate social responsibility to her role at the ASI and...
Aluminium prices were up by 0.10 per cent to INR 101.30 per kg in futures trading as traders created fresh positions after pick up in demand at the spot market. At Multi Commodity Exchange, aluminium for delivery in February inched up by 10 paise, or 0.10%, to INR 101.30 per kg, in a business turnover of 313 lots. On similar lines, the metal for delivery in far-month March edged up by a similar margin to INR 102.10 per kg in four lots. Market analysts said fresh positions built up by traders on the back of pick up in demand from consuming industries at domestic spot markets, mainly helped aluminium prices to trade higher at futures trade.
Government of India finally seems to be waking up to the crisis situation which domestic aluminium industry is going through. Union Minister for Steel and Mines, Narendra Singh Tomar said, "Dumping by China is a big reason. They are selling for lower than their production cost. It may be their strategy but it is damaging us." The government has increased the import duty on steel on more than one occasion. It also imposed anti-dumping and safeguard duties. The odds are that more action is in the offing to shelter the metal producers, Tomar said. The aluminium industry is currently reeling under not just cheap imports but also rising costs, largely due to higher taxes on coal, and a steep decline in aluminium prices. India consumes around 3.5 million tonnes aluminium every year, of which...
Aditya Birla Group firm Hindalco Industries on Tuesday reported 88.74 per cent plunge in standalone net profit to INR 40.46 crore for the quarter ended December 31, 2015, due to a sharp fall in metal prices. The company had reported a standalone net profit of INR 359 crore in the corresponding quarter of last fiscal, the company said in a regulatory filing to the BSE. Its total income from operations declined to INR 8,150.27 crore during the quarter under review from INR 8,603.03 crore in the year-ago period. Total expenses declined to INR 7,786.65 crore during the third quarter (Q3) as against INR 7,895.96 crore in the year-ago quarter. Operating results for the quarter were severely impacted by the sharp drop in London Metal Exchange prices and regional aluminium premium, the...
Leading, global aluminium producer UC RUSAL announced yesterday its fourth quarter and full year 2015 operating results. Aluminium production in Q4 2015 totalled 878 thousand tonnes, down 4.0 per cent Q-o-Q, remaining flat on the Y-o-Y basis. Q4 2015 aluminium sales totalled 876 thousand tonnes down 6.7 per cent Q-o-Q. RUSAL attributed the reduction in sales to a relatively high level of Q3 2015 sales on export and domestic markets and a marginal increase of inventories (goods in transit) in 4Q15 to be distributed 1Q16. The share of Value Added Products (VAP) in the overall aluminium sales portfolio in the fourth quarter was 44 per cent. Q4 2015 realised price decreased by 6.2 per cent Q-o-Q to USD1,729 per tonne reflecting the general downward trend of London Metal Exchange (“LME”)...
Alro Slatina, one of Romania's biggest aluminium producers has inked an agreement with the Black Sea Trade and Development Bank to borrow a sum of USD 60 million. The primary aluminium maker will use the funds to carry out investments this year, the company announced. The loan has a seven-year maturity and will be repaid in equal half-yearly installments, disclosed company sources. Alro's investment plans this year include increasing operational efficiency while reducing energy dependency. The Black Sea Trade and Development Bank is a development bank that serves the eleven countries that are members of the Organization of the Black Sea Economic Cooperation. It includes Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. Alro is part of...
His Royal Highness the Prime Minister of the Kingdom of Bahrain, Prince Khalifa bin Salman Al Khalifa honoured Aluminium Bahrain B.S.C. (Alba) by visiting the company’s exhibition stand on February 09, 2016 at the Gulf Industry Fair (GIF) 2016. GIF 2016, which is being held under the patronage of His Royal Highness the Prime Minister of the Kingdom of Bahrain, Prince Khalifa bin Salman Al Khalifa from February 9 – 11, 2015 at Bahrain International Exhibition and Convention Centre, Kingdom of Bahrain, was inaugurated by HRH this morning. HRH the Premier, accompanied by VIP guests and dignitaries, was welcomed by Alba’s Chairman of Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa and the Executive Management at the Alba stand. Shaikh Daij presented HRH the Premier with a model...
Debnarayan Bhattacharya, managing director at Aditya Birla Group company Hindalco Industries, sounded genuinely concerned about Indian government's role in reducing the worries of the domestic aluminium industry players who are badly hit by Chinese imports and aluminium price freefall. In a recent interview with a leading news daily, Bhattacharya said, "There are almost 750,000 people who are directly or indirectly engaged in the aluminium industry in the domestic market. So, it is important that the government takes some measures to curb Chinese imports in the national interest." Coming from someone who is steering the company at a very difficult time, this certainly stands as a view that every aluminium producer in the country would agree upon. The Aluminium Association of India has,...
As one of the important Aluminium producers in the Persian Gulf region and pioneer in this industry, Iran is considered a strategic point for production. With this goal in mind, The 4th Iran International Aluminium Conference and Exhibition will be a turning point in upgrading Aluminium knowledge. As part of this act Dr. Mehdi Karbassian Deputy Minister & Chairman of the board of IMIDRO (Iranian Mines and Mining Industries Development and Renovation Organization) will act as keynote speaker in this conference. With the growing focus and attention towards this conference, Danieli from Italy has chosen to be a Golden Sponsor and Fives from France a sponsor in the upcoming event, up to now. Plus, there are great speculations that Rusal from Russia and NFC from China will chose to become...
According to a leading investment banking, securities and investment management firm, aluminium prices may fall more than 10 per cent by year’s end amid ongoing weakness in Chinese demand that is unlikely to show any recovery in 2016. The firm cut its aluminium forecast to $1 350 a ton from $1 550 a ton. The analysts at the firm wrote, “We now anticipate no material recovery in Chinese metals demand growth in 2016.” China’s transition from metals-intensive, investment-led growth “is likely to be permanent,” they said, while also citing an overhang of property inventory and the country’s high debt levels as challenging for demand in the world’s top commodities consuming nation. The slowest economic expansion in China in a generation has led to the oversupply of metals and sent aluminium...
Aluminium prices inched up by 0.54 per cent to INR 103.10 per kg in the futures trade today as participants built up fresh positions, tracking a firm trend overseas. Furthermore, strong demand in the spot markets supported the upside. At the Multi Commodity Exchange, aluminium for delivery in February month traded higher by 55 paise, or 0.54 per cent to INR 103.10 per kg in business turnover of 475 lots. Similarly, the metal for delivery in far-month March contracts edged up by 50 paise, or 0.48 per cent to INR 104 per kg in 13 lots. Marketmen said apart from a firm trend in base metals pack at the London Metal Exchange, increased demand from consuming industries at domestic spot market kept zinc prices higher at futures trade. Meanwhile, aluminium has inched up 0.5 per cent at the London...
