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) on Thursday said it is cutting its workforce by 4 percent as part of a strategic restructuring to reduce costs and boost operational efficiency. EGA was created by the merger of two state-owned aluminium companies - Dubai Aluminium (Dubal) and Abu Dhabi's Emirates Aluminium (Emal) - to create what was at the time the world's fifth largest aluminium company with an estimated value of $15 billion. The move, which would see around 250 support positions cut, is aimed at creating a leaner entity and increasing competitiveness as it looks to expand in the UAE and abroad, EGA said in a statement. EGA is jointly owned by Abu Dhabi's investment fund Mubadala and the state company which holds Dubai's most high-profile assets, Investment Corporation of Dubai (ICD)....
Noranda Aluminum Holding Corporation announced today that it has obtained $15 million of project-specific financing that will allow it to complete a state-of-the-art redraw rod mill at its aluminum smelter in New Madrid, Missouri ("New Madrid"). The new rod mill will increase Noranda's production capacity by approximately 43% and will exemplify the latest cutting-edge technology in the North American marketplace. The rod mill is geographically located in an advantageous section of North America which affords customers shorter transportation distance and lower freight costs. Consequently the Company has already received interest from customers for a majority of the new rod mill's capacity. The Company expects the new Rod mill to cost approximately $55 million, of which approximately $15...
Rio Tinto will launch a C$12 million project aimed at enhancing the aluminium smelting technology currently employed at several of the company's plants to drive productivity gains. The project will be conducted by Rio Tinto's aluminium technology teams at the Arvida Research and Development Centre in Saguenay, Quebec and Voreppe, France and will be tested at the Alma aluminium smelter in Quebec's Saguenay – Lac-Saint-Jean region. Arnaud Soirat, president and chief executive officer, Rio Tinto Alcan Primary Metal said "This project demonstrates how our leading technology position supports our business through innovative and cost-effective solutions to drive performance enhancements. Rio Tinto operates the aluminium industry's largest, most modern, most competitive fleet of smelters and we...
Aluminium Bahrain B.S.C. (Alba), one of the leading aluminium smelters in the world, announced the appointment of financial advisors for its Line 6 Expansion Project - J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (NBB) - at a signing ceremony held on Monday June 15, 2015. The signing ceremony, held in Alba, was attended by Alba's Chairman of Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa and the Chief Executive Officer, Tim Murray; the Senior Country Officer and Managing Director of J.P. Morgan in Bahrain, Ali Moosa; the Head of Wholesale Banking for GCC (excluding KSA) & International at GIB, Ravi Krishnan, Head of Debt Capital Markets at GIB, Roderick Gordon and the Head of Equity Capital Markets/ Investments at GIB, Fakhr-e Fazli; in addition,...
Century Aluminum of Kentucky General Partnership, a subsidiary of Century Aluminum Company, announced today that a new, five-year collective bargaining agreement was ratified by the United Steelworkers Local 9423 on June 11, 2015 for the Company's Hawesville, Kentucky smelter. The new contract is effective today through April 1, 2020. "We welcome this positive development for the smelter, its entire workforce and the community," commented Mike Bless, CEO and John Hoerner, SVP North American Operations. "Century's employees have always been and will always be a critical part of our success. We now look forward to working with everyone who shares our commitment to make the Hawesville plant the safest and most productive business it can be." Workers will return to their regular shifts...
Vedanta Limited, Cairn India Limited ("Cairn India") and Vedanta Resources plc ("Vedanta plc" together with its subsidiaries, the "Group"), today announce a merger between Vedanta Limited and Cairn India (the "Transaction"). Key Highlights • Minority shareholders of Cairn India will receive for each equity share held: - 1 equity share in Vedanta Limited - 1 redeemable preference share in Vedanta Limited with a face value of INR 10 • Implied premium of 7.3% to the previous close. • Strategy remains unchanged, with continued focus on delivering attractive growth, sustainable development and long-term value for all shareholders. • Commitment to growth and to sustain strong dividend distribution. • Completion expected in first quarter CY 2016 Mr Anil Agarwal, Chairman of Vedanta plc, said:...
Northwest Iceland Municipalities and Klappir Development ehf. have signed together a declaration of intent and an agreement of cooperation for the construction and operation of an aluminum smelter with a capacity of 120,000 tpy at Hafursstaðir in Skagabyggð. The municipalities of Blönduósbær, Húnavatnshreppur, Húnaþing vestra, Sveitarfélagið Skagaströnd, Skagabyggð and Sveitarfélagið Skagafjörður published a joint statement on Friday 12th June declaring the same. At present the existing smelters have a cumulative annual production of around 800,000 ton with Straumsvík contributing around 190,000 tons, Grundartangi at around 260,000 tons and Reyðarfjörður at 350,000 tons. The new smelter is expected to contribute to the total aluminium capacity in Northwest Iceland. According to the joint...
Aiming to solidify ties with the European market and take advantage of growth opportunities, Emirates Global Aluminium ("EGA") will participate at GIFA 2015, which takes place in Germany from 16 to 20 June. Taking place every four years, GIFA provides a platform for industry networking as well as showcasing innovations that will shape the future of the sector. It is the largest aluminium exhibition in Europe and the most important trade fair in the world for foundry technology. This makes GIFA a key event for EGA, which is one of the largest and leading suppliers of foundry alloys to the automotive industry where they are used in the manufacture of wheel rims, sub-frames, suspension parts, cross members, engine blocks and engine cradles among various other applications. Consistency of...
China Hongqiao Group, which is poised to surpass Russia's Rusal as the world's biggest aluminium producer, plans to spend 10 billion yuan on building power plants and expanding smelting capacity in China and on projects in Indonesia and Guinea. The Shandong firm aimed to raise its output by 22.5 per cent to about 4.1 million tonnes this year, said Wong Yuting, Hongqiao's head of corporate finance. Wong also said the firm planned to increase its annual output capacity to about five million tonnes by the end of the year. This is likely to make Hongqiao the largest aluminium producer since Rusal has indicated its plan for output to remain flat at 3.6 million tonnes this year, while Aluminum Corp of China produced 3.38 million tonnes last year and suffered a record 16.2 billion yuan net loss...
Energy company AGL says its new gas storage facility near Newcastle has given the Hunter region much needed security of supply. AGL managing director Andy Vesey has today officially opened the $310 million Newcastle Gas Storage plant at Tomago. The storage facility will secure supply for industrial customers, such as the neighbouring Tomago Aluminium smelter, as well as homes across the Hunter region and beyond. It could eventually be linked to the company's controversial Gloucester coal seam gas site to the north. When asked about the Nationals' calls for a 'gas-free' Northern Rivers region in the north of New South Wales, Mr Vesey said he was hopeful decisions will be made based on the science behind the industry. "We know this is an emotional issue and we're very attentive to all the...
Hind Aluminium Industries Ltd has introduced an overseas Joint venture partner for its subsidiary Company Associated Industries Limited SFZ ("AIL SFZ"), incorporated in the Sultanate of Oman. Due to the above, AlL SFZ will become an Associate / Joint Venture Company of Hind, with a reduced shareholding of 32.50%. Shares of HIND ALUMINIUM INDUSTRIES LTD. was last trading in BSE at INR 57.9 as compared to the previous close of INR 58.9. The total number of shares traded during the day was 1487 in over 17 trades. The stock hit an intraday high of INR 61 and intraday low of 56.9. The net turnover during the day was INR 85207.
The union members belonging to United Steelworkers will vote today on the tentative agreement put forward by the company as a solution to end the one-month long lockout at Century Aluminum’s Hawesville, Kentucky smelter. If ratified by the union, workers are expected to return to work on Monday. A tentative five-year deal was reached between USW Local 9423 and the company management after a series of negotiations in the presence of a federal mediator. According to company spokesperson, the new deal offers 2.75% raise in wages over four years. In addition, craft will be given an additional $1.50 base wage hike. Informal meetings and voting will be held at the Lewisport Community Centre. The first meeting is scheduled at 9 AM, followed by a second one at 5 PM. The result of the vote would...
Hydro President and CEO Svein Richard Brandtzæg together with Vice Chairperson to the Qatalum Board, Hilde Merete Aasheim, Executive Vice President, Primary Metal at Hydro toured the Qatalum smelter on the 4th of June. Following a 3 year retrospective ‘Administration’ presentation from management, they were accompanied through all the operational areas by the CEO, DCEO and COO. The operation areas conducted their own presentations and hosted a brief tour of their premises. Of particular interest to the Hydro CEO was the Relining Facility. He was impressed to see that it was built on time and under budget. Its scale was impressive but ultimately what impressed was that the relining team were now surpassing the turnaround of pots faster than the business plan. This has a direct impact on...
Russian aluminium maker Rusal and several of its domestic consumers have proposed a tax on imports of products containing aluminium, such as wheel disks, Vedomosti newspaper reported on Thursday. Rusal, along with a number of state firms including defence conglomerate Rostec, United Aircraft Corp and United Shipbuilding Corp, and a subsidiary of U.S. Alcoa which owns one plant in Russia, made the proposal to the government at an Industry Ministry meeting this week, the paper said. The companies also announced the creation of an association which will focus on increasing aluminium consumption in Russia and decreasing the use of imports, Vedomosti reported, citing Roman Andryushin, Rusal's sales chief in Russia. Participants at the meeting proposed an import duty of between 20 and 30...
Aluminium settled up 0.09% at 110.85 gave up it's earier gains after U.S. aluminum premiums have fallen to their Lowest in more than three years as imports and scrap suppLies remain high and merchants unwind Long positions, extending an unprecedented, months-Long rout. The premiums that fabricators and merchants pay on top of benchmark London Metal Exchange prices for delivery in the U.S. Midwest have dropped to 8-9 cents per [b from 9-10 cents last week and 13-14 cents a month ago. Those are the lowest prices since early 2012. While LME aluminum rose to USD 1,768/mt after opening at USD 1,748/mt on Tuesday. But the light metal fell back later to end the day at USD 1,749.5/mt. On the macro front, disappointing Chinese CPI data strengthened hopes for more stimulus measures. The euro zone’s...
A tentative agreement at an aluminum smelting plant has been reached, potentially ending a work stoppage affecting roughly 560 employees at the Century Aluminum facility in western Kentucky. The Gleaner reports Allison Beck, acting director of the Federal Mediation and Conciliation Service, announced Tuesday that a tentative settlement has been reached in Hawesville between United Steelworkers Local 9423 and Century Aluminum. A previous labor contract expired in April and was followed by contentious negotiations and a work stoppage in May. The latest tentative agreement is subject to ratification by union membership. According to a statement from the union, informational meetings will be held Thursday at the Lewisport Community Center. Voting will take place after each meeting. Before the...
Chinese imports of primary aluminium ingot are likely to rise in coming months after the price of the metal fell on the global market, prompting end-users to buy, industry and trading sources said on Thursday. The weak London Metal Exchange (LME) price is opening a rare arbitrage opportunity for Chinese investors to sell aluminium futures in Shanghai and buy on the LME, which may result in some imports, the sources said. "We started selling more to Chinese end-users last week," said an Asian-based executive whose firm trades aluminium and also manufactures aluminium products in China. "China’s imports will probably rise in the coming two or three months, although the rise may not be very big." Imports of primary aluminium fell 79 per cent in the first four months of 2015 compared with a...
Aluminium Bahrain B.S.C. (Alba) announces approval for the Line 6 Expansion Project which would make the Company the largest single site smelter upon project completion. The Line 6 Expansion Project, expected to begin production in early 2019, will boost the per-annum production by 514,000 metric tonnes upon full ramp-up. This would bring Alba's total production capacity to approximately 1,450,000 metric tonnes per year. One of the biggest industrial projects in the Kingdom of Bahrain, the Line 6 Expansion Project is expected to have a big impact on the economy and new job creation. In addition, at least 50% of the new metal production is expected to be sold to existing and new Bahrain downstream customers. The Line 6 Expansion Project will allow Alba to continue its marketing strategy of...
