Emirates Global Aluminium (EGA) has been named a strategic partner of Dubai Future Week 2026, highlighting the aluminium producer's focus on industrial innovation, artificial intelligence and advanced manufacturing as the UAE looks to strengthen its future industrial capabilities. Organised by the Dubai Future Foundation (DFF), Dubai Future Week will take place from November 18 to 21, 2026, at Emirates Towers and the Museum of the Future under the theme 'For the Human of the Future'. The event is expected to attract more than 10,000 participants, including business leaders, policymakers, investors, entrepreneurs, innovators and technology experts from around the world. EGA's participation will bring attention to its ongoing industrial transformation, which includes developing proprietary...
Hindalco Industries reported its highest-ever quarterly net profit of INR 75.33 billion (USD 802 million) in the second quarter of FY2027, up 59 per cent from INR 47.41 billion (USD 505 million) a year earlier, supported by stronger earnings across its aluminium, copper and Novelis businesses. Consolidated revenue from operations rose 39 per cent year on year to INR 917 billion (USD 9.8 billion) in the quarter ended September 30, 2026. EBITDA increased 42 per cent to INR 137.6 billion (USD 1.5 billion), compared with INR 97 billion (USD 1 billion) in Q2 FY2026. The company’s aluminium upstream business rose 55 per cent to INR 70 billion (USD 745 million) in quarterly EBITDA. Earnings from non-LME-linked businesses rose 50 per cent to INR 68.6 billion (USD 731 million). Copper also...
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A new study released today confirms the growing importance of the domestic aluminum industry to the U.S. economy. Research conducted by economic research firm John Dunham & Associates found that the U.S. aluminum industry directly employs more than 155,000 workers and generates $65 billion in economic output in all 50 states and the District of Columbia. As an integral part of the U.S. manufacturing base and overall economy, the aluminum industry supports hundreds of thousands of high quality manufacturing jobs in communities of all sizes," said Layle "Kip" Smith, President and CEO of Noranda and Chairman of the Aluminum Association. "Aluminum is a vital material for the modern era and a bellwether for domestic manufacturing." The Aluminum Association last released an economic impact...
Aluminum inventories tracked by the London Metal Exchange jumped the most in more than a year, following a gain in zinc stockpiles, amid continued appetite to use industrial metals in so-called financing transactions. Stocks of aluminum rose 1.5 percent, the most since Sept. 13, 2012, to 5.42 million metric tons, daily exchange data showed today. Zinc inventories had this year’s third-biggest increase yesterday, climbing back above 1 million tons with the help of a 12 percent jump in New Orleans warehouses. As much as 80 percent of stockpiled LME aluminum and 60 percent of zinc inventories may be tied to financing transactions and unavailable to consumers, according to Societe Generale SA. Investors use the transactions to capitalize on markets in contango, when prices increase for later...
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the Aluminium Valley Society has been granted financial assistance for the organization of the fifth Aluminium Valley in Business trade show. "Our government is funding this Aluminium Valley Society initiative because it will help businesses in the sector increase their share of export markets and improve their competitiveness, which will in turn help strengthen our country's economy," said Minister Lebel. Since its founding in 2001, the Aluminium Valley Society has been working to make the Saguenay-Lac-Saint-Jean region one of the world's leading hubs for aluminium production and processing by...
The National Energy Regulator of South Africa (Nersa) has confirmed that it received BHP Billiton’s official response this week to Eskom’s application for a review of the utility’s electricity supply contracts with the miner’s aluminium smelter in terms of Section 32 of the Electricity Regulation Act, 2006. Full-time regulator member responsible for electricity Thembani Bukula tells Engineering News Online that Eskom’s application and BHP Billiton’s response should be deliberated upon at the October 29 meeting of the energy regulator. Only after that meeting would Nersa be in a position to decide whether it felt it was within its mandate to hold public hearings into the controversial commodity price-linked contracts. Section 32 compels the regulator to investigate complaints of...
The Indonesian government will go ahead with its plan to take over North Sumatra-based aluminum producer PT Indonesian Asahan Aluminium (Inalum), despite an arbitration threat from Japanese shareholders, Coordinating Minister for the Economy Hatta Rajasa said. According to Hatta, the government had yet to decide whether it would allow local administrations to acquire a stake in Inalum, which would become a state-owned company after the contract allowing a Japanese consortium to manage and operate the company expired on Oct. 31. “It has been decided that Inalum will officially become a state-owned company on Nov. 1,” Hatta said after a meeting at his office on Thursday. The meeting, which focused on PT Inalum’s acquisition, was attended by the State-Owned Enterprises Minister Dahlan Iskan,...
Bosnia's regional government said on Friday it had made proposals to help aluminium smelter Aluminij Mostar settle a debt to state-run power utility EPHZHB and stave off the company's closure. Aluminij, a mainstay of Bosnia's economy, began to shut down its smelter on Tuesday after Mostar-based EPHZHB froze its bank accounts in a dispute over a 40 million Bosnian marka (20 million euro) debt owed for power deliveries. Like other smelters, Aluminij Mostar has suffered from a 30 percent fall in the price of the metal in the last 2-1/2 years caused by oversupply as well as by high power prices. The government of Bosnia's autonomous Muslim-Croat federation, where the smelter is located, said it had proposed to EPHZHB to unfreeze Aluminij's accounts and to enable it to continue production....
Vedanta Aluminium Ltd (VAL) that is struggling to commission its 1.2 million tonne aluminium smelter at its Jharsuguda Special Economic Zone (SEZ) for want of alumina, has sought partial de-notification of the zone’s non-processing area. Responding to VAL’s request, the Odisha government has recommended the proposal to the Director, SEZ under Union ministry of commerce & industry. “The government is pleased to recommend the proposal of VAL for partial de-notification of non-processing area of VAL-SEZ at Jharsuguda. Any tax concession availed by VAL either from the Government of India or from the state government in procuring the materials towards the construction activities in this patch of land proposed for de-notification have to be refunded to the Centre/state government,” S C Naik,...
The world's largest aluminum producer, United Co. Rusal PLC, said Thursday that it plans to continue its steep production cuts in 2014 as global markets remain heavily oversupplied. The company said it expects to reduce output by 647,504 tons next year as it continues to feel the impact of the full drop in output from several facilities that were mothballed part way through this year. The cuts would come on top of an output decline of 324,700 tons this year as the company has called for an industry-wide reduction in production as massive global oversupply has knocked the bottom out from prices. "Rusal continues to react to the current market conditions and may consider further actions to improve its cost position in the industry," said the company's first deputy chief executive, Vladislav...
Research analysts at UBS AG dropped their target price on shares of Noranda Aluminum Holding Corp. from $3.50 to $2.75 in a report released on Wednesday, Stock Ratings News reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target would indicate a potential upside of 7.00% from the stock’s previous close. A number of other firms have also recently commented on NOR. Analysts at Zacks upgraded shares of Noranda Aluminum Holding Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $2.40 price target on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Noranda Aluminum Holding Corp. from $3.75 to $2.50 in a research note to investors on Monday, October...
Aluminium premiums negotiated in Brazil are following a different trend from other parts of the world as local sector fears a material shortage after production curtail announcements and increasing demand, Metal Bulletin understands. Premiums for aluminium ingot in Brazil are trading at $450-500 per tonne on a delivered basis, and are expected to remain at these levels at least until the end of the year, according to local market sources. But very prompt deliveries have commanded even higher premiums, one executive said. "I have seen people paying up to up to $680 per tonne as the company needed the material right away," he told MB. Brazilian aluminum demand for 2013 is estimated at 1.4 million tonnes, between 100,000 and 200,000 tonnes above output, which is forecast at 1.2-1.3 million...
The company may have to look for other options because its Talabira coal mine Stage-II has not yet received approval from the Union environment ministry Industry major in aluminium and copper, Hindalco Industries will have to buy coal from other sources at a very high cost for its aluminium project worth Rs. 170 billion in Odisha, according to a media report. The company may have to look for other options because its Talabira coal mine Stage-II has not yet received approval from the Union environment ministry, the report added. The mine is at the centre of an investigation by the Central Bureau of Investigation (CBI) for what it claims is the government’s undue benefits to Hindalco. The CBI on Tuesday said that it has found Hindalco chairman Kumar Mangalam Birla had met former coal...
The world’s largest aluminum company says it has won $275 million in damages from Tajikistan’s largest enterprise. Moscow-based Rusal said in an emailed statement on October 16 that a Swiss tribunal had found the Tajik Aluminum Company (TalCo) in breach of two 2003 agreements with Rusal subsidiary Hamer Investing, Ltd. Under those agreements, Hamer had supplied TalCo raw materials for which the state-run Tajik company had failed to pay. The tribunal ordered TalCo to pay damages in excess of $112 million, approximately $147 million in interest, and almost $15 million in legal fees, the Rusal statement said. The statement also said the tribunal had thrown out TalCo’s $400 million counterclaim, in which the company argued that Hamer’s original contracts should be deemed invalid as they had...
US aluminum producer Ormet has been given a three-month extension -- until February 20, 2014 -- to file a Chapter 11 reorganization plan by a federal bankruptcy court in Delaware. In a Tuesday order, US Bankruptcy Court Judge Mary Walrath also gave the Hannibal, Ohio-based company until April 22, 2014, to seek creditors' approval for the plan. "This order shall be without prejudice to the debtors' right to seek further extensions of the time within which only the debtors may file and solicit acceptances of a plan," Walrath said. Ormet had faced an October 23 deadline to submit the plan. The embattled company, which filed for reorganization on February 25, had hoped to exit bankruptcy protection quickly after Minnesota's Wayzata Investment Partners, a private equity firm, won court...
UC Rusal plans to invest RUR 367.9 million modernising gas treatment equipment at the Irkutsk aluminium smelter (IrkAZ). According to the emissions reduction plan, approved by the Ministry of natural resources of the Irkutsk region, between 2013 and 2015, seven electrostatic precipitators in the third and fourth potlines and six foam-type scrubbers in the third potline will be replaced at IrkAZ.? ?In October 2013, in potline 4 of IrkAZ, an electrostatic precipitator was replaced with a new horizontal-type precipitator. The cost of the project amounted to RUR 60 million. The company plans to acquire a further electrostatic precipitator to be installed in potline 4 in 2014. The new equipment is 5% more efficient and will capture up to 99% of particulate fluorides and potroom dust. Three...
On 16 October, Alcoa announced that the smelter at the Ma'aden-Alcoa joint venture, which remains in initial start-up phase, has halted production on one of two potlines. The temporary shutdown was undertaken after a period of pot instability. The joint venture is actively working to restore the potline, and it is expected to be completed and back online between the first and second quarter of 2014. The ramp-up of the second potline was ongoing and will now be accelerated. There is not expected to be any impact to Alcoa's customers. There is no impact to any other part of the joint venture project, including the mine, refinery and rolling mill, which all remain on schedule. Alcoa is the world's leading producer of primary and fabricated aluminum, as well as the world's largest miner of...
Norwegian aluminium company Norsk Hydro has launched syndication of a $1.5 billion loan to refinance an existing undrawn $1.7 billion facility that is due to mature in July 2014, banking sources said on Wednesday. The financing is for five years with two one-year extension options. BBB/Baa2 rated Norsk Hydro is paying a flat margin of 45 basis points (bps) over Libor on the new financing. Bookrunners and mandated lead arrangers are invited into the deal on $175 million tickets for a 10 bps arrangement fee and a 30 bps participation fee, one of the sources said. Average loan pricing for European Triple B rated companies fell to 48 bps in the third quarter from 66 bps in the second quarter, according to Thomson Reuters LPC data, as heightened competition between banks to win mandates has...
The aluminium maker Aluminij Mostar, a crucial pillar of Bosnia's economy, began shutting down its smelter on Tuesday and said it would be forced into bankruptcy unless the government helped it settle a debt to the state-owned power company. The company, EPHZHB, succeeded on Monday in freezing Aluminij Mostar's bank accounts to try to force it to settle a debt of 38 million Bosnian marka (19 million euros), Aluminij General Manager Ivo Bradvica told a news conference on Tuesday. Like other smelters, Aluminij Mostar has suffered from a 30 percent fall in the price of the metal in the last 2-1/2 years, caused by oversupply, as well as high power prices. But the firm accounts for more than a quarter of Bosnia's GDP, and the government has already saved it from collapse in June by taking a 44...
China's Shandong Nanshan Aluminium Co Ltd plans a $5 billion integrated aluminium plant on the Indonesian island of Bintan, company Chairman Song Jianbo said on Wednesday. "(It) will be completed within 3 years. We will use local bauxite to make up alumina and then we will use the alumina to make up aluminium ingot," he told reporters after meeting Industry Minister M.S. Hidayat. The capacity of the alumina smelter will be 2.1 million tonnes per annum, while the capacity for aluminium ingots will be 530,000 tonnes per annum. The output will be for the local Indonesian market as well as for export to such countries as Japan and the United States, he said.
