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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LME aluminium is expected to test a resistance at $1,581 per tonne, with a good chance of breaking above this level and rising more towards the next resistance at $1,598. These two resistances are identified respectively as the 50 percent and the 38.2 percent Fibonacci retracements on the rise from the August 24 low of $1,506 to the September 9 high of $1,655.50. Wave pattern suggests that aluminium is riding on a wave c, the third wave of a three-wave cycle from $1,506. This wave could at least travel to $1,634, its 61.8 percent Fibonacci projection level. A more realistic target could be $1,598.
The Environmental Impact Report on a proposed 964-acre aluminum direct chill billet casting facility in Lenwood is expected to be released by November, officials say. Economic Development and Planning Manager Gaither Lowenstein confirmed recently that he anticipates releasing the public review draft by mid-November. Mojave Aluminum President Eric Shen said he is a little more optimistic. "We are hoping to have the consultants sign off on the draft for administrative city review and public review sometime in October," Shen said by phone Wednesday. The $201 million proposed aluminum plant is targeted for a site at the southeast corner of Gazana Street and Amarylis Avenue. City Manager Curt Mitchell had last reported on the plant's progress at the August 25 City Council meeting. During a...
Multi Mech is targeting three regional aluminium operations with its smelter-customised forklifts, which are manufactured by Doosan and distributed exclusively by Multi Mech in the region. The company is hoping to replace much of the 200-machine fleets of a couple of existing smelter operations in the region, as well as playing a role in supplying a 200-machine bauxite-refining operation that is yet to come online. “So we’re talking about 600 machines for three years down the line, and the market size for lift trucks is only 10,000 across segments,” states Gopinath. “If I take over three smelters, I'm taking a 30% share of the market [in aluminium]. “Two years down the line, our forklift business in the GCC will be worth $50m to $75m, and it’s not just the trucks: the aftersales and parts...
Century Aluminum says about 250 employees will remain working at its Hawesville Smelter in western Kentucky. The Messenger-Inquirer reports in a statement Wednesday, the company said that the plant will continue operating at about 40 percent capacity after October 24. Company officials had originally planned to shut down the smelter on that date, citing a stagnant aluminum market and low prices for Chinese aluminum. The company now says it will keep two pot lines operating at the plant. Century Aluminum's spokesman Kenny Barkley says the company would monitor the economy and the price of aluminum to determine if the two pot lines would continue operating. Barkley says the company believes it can still operate with two pot lines and be profitable.
Southwest Securities International Securities Limited (00812) (SWSI) has conditionally agreed to subscribe for the secured convertible bonds issued by XinRen Aluminum Holdings Limited in an aggregate principal amount of US$30 million. The convertible bonds, bearing interest at a rate of 8% per annum, will become mature on 27 August 2020. Assuming full conversion of the convertible bonds at a conversion price of S$1.01 per XinRen Aluminum share, the maximum number of conversion shares to be allotted and issued by XinRen Aluminum will be 39.386 million shares. XinRen Aluminum, whose shares are listed on the Main Board of SGX-ST, is a vertically integrated maker of primary aluminum products in the PRC. As the rate of return of the convertible bonds is generally more favourable and higher...
The current imbalance in the aluminum supply/demand relationship inside China has spurred an oversupply which is resulting in two negative outcomes for the U.S. economy and the aluminum industry as a whole. It encourages illegal trade, trans-shipment, and re-melting of fabricated aluminum products, which is fundamentally impacting U.S. aluminum producers. It has also created an oversupply of material from the most carbon intensive operations in the world, supplanting aluminum produced in less carbon intensive regions, including North America. At the direction of the Aluminum Association’s Executive Committee Trade Working Group – chaired by Michelle O’Neill, Alcoa; and including John Barneson, Kaiser; Kip Smith, Noranda; John Gardner, Novelis; and Garney Scott, Scepter – the Association...
Indian aluminium industry officials are set to meet Revenue Secretary Hasmukh Adhia this week and pitch for a safeguard duty on the lines of one on steel products in a bid to check cheap imports from China and the Middle-East. Following the imposition of 20 per cent provisional safeguard duty on steel products by the government, industry body Aluminium Association India (AAI) is readying its case for a similar duty, sources said. The association is collating data for all primary and rolled products to strengthen its case and its members are slated to meet the Revenue Secretary next week, they added. Last month, the association members -- Vedanta Group CEO Tom Albanese, Hindalco Deputy Managing Director D Satish Pai and Nalco CMD T K Chand -- met Finance Minister Arun Jaitley and urged him...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters, announced the official appointment of Khalid Abdul Latif as Chief Marketing Officer following the Alba Board of Directors Meeting, which was held on Wednesday, September 30, 2015 at Alba. Khalid Abdul Latif will lead the Company’s global marketing strategies to drive innovation across Alba’s business divisions. Speaking on the occasion, Alba’s Chief Executive Officer Tim Murray said: “Khalid’s appointment reflects Alba’s commitment to develop Bahraini nationals from within the Company into key leadership positions. He has a right mix of marketing and operational experience to stimulate our existing business and develop new markets. I am confident that Khalid will steer Alba’s global marketing strategy to meet...
The 33rd ICSOBA Conference and Exhibition will take place in the Rotana Al Murooj hotel in Dubai, UAE in the period of 29 November - 1 December. For the event ICSOBA (International Committee for Study of Bauxite, Alumina and Aluminium) cooperates with Emirates Global Aluminium (EGA), the jointly-held, equal-ownership company integrating the businesses of Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL). Technical field trips to DUBAL smelter (Dubai) and EMAL Smelter (Abu Dhabi) will take place on November 29, 2015. ICSOBA was established in 1963 and is an independent non-profit association that unites industry professionals representing major bauxite, alumina and aluminium producing companies, technology suppliers, researchers and consultants from around the world. As ICSOBA travels...
Aluminium prices were up 0.73 per cent to INR 103.20 per kg in futures trade today as participants strengthened their positions, supported by an upward trend in base metals pack overseas. Besides, firm demand at the spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in the current month edged up 75 paise, or 0.73 per cent, to INR 103.20 per kg in a business turnover of 464 lots. Also, the metal for delivery in November was trading up 65 paise, or 0.63 per cent higher, at INR 104.30 per kg in a turnover of 4 lots. Marketmen said, apart from increased domestic demand, a firming global trend in base metals after China's official factory gauge stabilised around a three-year low, showing signs of manufacturing recovery in the world's largest...
As part of its commitment to developing local talent, Sohar Aluminium (SA) has launched the company’s inaugural Fresh Graduate Programme to give selected high achieving young Omani students an intensive training and may become SA’s future Engineers. The programme is open to Engineering Bachelor degree holders in the disciplines of Mechanical, Electrical, Mechatronic, Chemical, Civil or Computer Science who have completed their education in 2014 or 2015. SA’s existing employees who have recently completed their undergraduate education can equally apply to the programme. Said bin Mohammed al Masoudi, CEO of Sohar Aluminium, said, “We are proud to introduce a course tailor-made for young and ambitious Omanis who are looking for an opportunity to work for one of the Sultanate’s leading...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters, is on track to exceed its annual production growth targets according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made following the third quarterly meeting for the year 2015, which was held on Wednesday, September 30, 2015 at Alba. The Board approved the appointment of Khalid A. Latif as Chief Marketing Officer (CMO) with immediate effect. The Board also approved the 2016 Marketing Plan, the half-yearly financial statements along with the recommendation to distribute interim cash dividends of BD 7.77 million (US$ 20.66 million). The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “I,...
Japan's aluminium premiums for October-December shipments were set at $90 per tonne, down 10 percent from the previous quarter on high domestic inventories and weaker overseas rates, five sources directly involved in the talks said on Wednesday. Japan is Asia's biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. Two end-user sources and two buyers at trading houses said all deals were done at $90, while a source at one of the producers said most shipments were booked at $90. The fourth-quarter premiums, against $100 per tonne PREM-ALUM-JP paid in the July-September quarter, marked the third straight quarterly decline. Premiums hit a record high of $425 in...
China’s primary aluminum imports surged 40.65% MoM to 21,800 mt in August, customs data showed. The average SHFE/LME aluminum price ratio rose 3.91% MoM to 7.62 in August, favorable for imports. Aluminum premiums in Asia held largely steady around USD 100/mt in August. In August, primary aluminum imports were largely under two trade modes, namely feeding processing trade and goods in bonded areas (including pilot areas under customs supervision). Primary aluminum imported under these two trade modes is either sold overseas after being processed or stored in bonded zones, rather than being traded in China’s domestic market. China’s primary aluminum imports will grow slower in September, as the average SHFE/LME aluminum price ratio dipped to 7.38 during the first three weeks of the month.
Century Aluminum of Kentucky, a wholly-owned subsidiary of Century Aluminum Company, today announced that it expects to continue to operate its Hawesville, Kentucky smelter at approximately 40% of capacity (two potlines) following October 24, 2015. Century had previously announced its intent to curtail 100% of its Hawesville operations beginning on October 24th, but now will only reduce its operations to 40% of capacity. The remaining operations at the Hawesville smelter will primarily produce high-purity aluminum and provide molten metal to local customers. Continued operations at 40% of capacity will be dependent on acceptable commercial conditions, including aluminum prices, product premiums and operating costs. "We are pleased to be able to announce that partial operations will...
The members of the Supervisory Board of Aluminij d.d. Mostar adopted today the Decision on the dismissal of Nikica Ljubic from the position of CEO of the company, and also the entire Board of Directors, i.e., Executive Directors Ivan Grle, Tomislav Lovric and Amar Hadžiomerovic. The session was convened, after the rejection of the proposed Annual Report for 2014 at the last Shareholders' Assembly session of Aluminij, with the aim of vote of confidence for the current Board of Directors. The Decision on dismissal was passed with six votes in favour and one vote against, and the president of the Supervisory Board Dalibor Miloš thanked Nikica Ljubic for his past engagement, pointing out the necessity of those changes, given the fact that the accumulated problems would culminate in a very...
Under the patronage of H.E. Hamed bin Khamis Al Amri, Undersecretary of the Ministry of Manpower, Sohar Aluminium (SA) proudly graduated two batches of Multi-Functional Technicians during a special ceremony held at Crowne Plaza Sohar. The 55 employees successfully completed a 2 year in-depth development programme at the SA Training Centre which allowed them to be promoted from Operators to Multi-Functional Technicians. On the occasion, Eng. Said bin Mohammed Al Masoudi, CEO of SA, said, “Today marks a very important milestone for Sohar Aluminium as we witness 55 of our employees enhance their professional skills through hard work and dedication but above all, ambition to grow and progress in their careers. Congratulations to one and all.” He added, “From the onset, Sohar Aluminium has...
Norsk Hydro ASA, Europe’s third largest aluminum producer, is likely to follow its larger competitor Alcoa Inc. in splitting itself to better cope with a slump in the aluminum market, according to an analyst at Norway’s Fondsfinans AS. It’s “just a matter of time” but Hydro is “not known as a fast mover in that respect,” said Morten Normann, an analyst at Fondsfinans. Alcoa, the largest U.S. aluminum maker, announced Monday it will break itself up into an upstream and downstream company. The upstream business, which will retain the name, includes bauxite mines, alumina refineries and smelters while the downstream business includes value-added aluminum products. After the split Oslo-based Hydro is, according to Fondsfinans, the only “sizable” integrated producer left in the aluminum...
