Alcoa strikes $3.1b cash-and-stock deal for South32’s key aluminium assets
Alcoa Corporation is acquiring South32’s key aluminium assets in a USD 3.1 billion deal in cash plus 17,008,960 Alcoa shares, expanding its upstream aluminium portfolio across Australia, Brazil and South Africa. The transaction will also give South32 and its shareholders an equity interest in the...
Alcoa’s 16kg aluminium wheel could change fleet efficiency equation
A truck’s overall weight comes from dozens of components, including the engine, chassis, tyres, etc. Wheels are one area where fleets can explore lightweighting. Traditional steel wheels, widely used across the transport industry, are known for their robustness. Forged Alcoa aluminium wheels offer...
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Alcoa & Alcoa Foundation Provide Recycling Tools to Help Americans Protect the Planet and Earn Cash in Recognition of America Recycles Day, November 15
Recycling is not only good for the planet, but good for your wallet too. According to the Aluminum Association, Americans earn nearly $1 billion a year from recycling aluminum cans, yet nearly another $1 billion worth of aluminum cans are still tossed into landfills. As national sponsors of America...
Shares of Alcoa Cross Below the Critical Support Price
Shares of Alcoa closed below the 50-day moving average of $10.78 on Monday. From a technical perspective, this is a sign of weakness as long as prices remain below the stock's moving average. Shares of AA settled the day down $0.1 to $10.81 on lighter than usual volume. Today, the stock price...
Alcoa and Century Aluminum benefit from aluminum greater exposure
Aluminum prices are at a low right now as investors worry about a weak US economy and a possible European recession negatively affecting the global industry. With aluminum being used in many different industries across the market weak aluminum prices could reflect broader economic troubles ahead....
CC and Bakers advice on financing for flagship $10.8bn Saudi project
Clifford Chance (CC) and Baker & McKenzie have advised on the second phase of financing for a $10.8bn (£6.8bn) aluminium development in Saudi Arabia. CC advised a consortium led by 15 banks, including the Arab National Bank and The Saudi Investment Bank, providing $2.15bn (£1.3bn) of financing for...
Bahrain royal denies taking bribes in Alba case
A member of the Bahraini royal family has denied accusations of corruption made against him in a UK court case involving a London-based businessman and contracts involving Bahraini aluminium producer Alba and U.S. giant Alcoa. Corruption has been a key issue that the opposition in the Gulf Arab...
Grade issue halts ingot production at Alcoa smelter
Alcoa Inc has temporarily stopped producing certain ingots at its Becancour smelter in Quebec because of a quality problem, the aluminum producer said on Wednesday. A spokesman said the company suspended production of its P1020 aluminum billet in late October as a result of high iron content and...
Alcoa’s ABI smelter halts P1020 ingot output
Alcoa Inc.’s Aluminerie de Bécancour Inc. (ABI) smelter has stopped producing P1020 ingot as off-grade production problems continue at the Bécancour, Quebec-based plant. "We have temporarily stopped production of P1020 and are working to resume production as quickly as possible," an Alcoa spokesman...
Update-Guinea bauxite exports resume after breakdown-CBG
Bauxite exports from Guinea' CBG have resumed, eight days after a breakdown blocked shipments from the West African state, the company told Reuters on Sunday. CBG, a joint-venture between Alcoa , Rio Tinto and the Guinean government, is the world's largest bauxite exporter company with annual...
Alcoa seeks cheaper electric rates
Alcoa Inc. continues to negotiate with the Tennessee Valley Authority for a new power contract that could help the aluminum maker reactivate its shuttered smelting operations in Blount County. But Alcoa Vice President Michael Padgett said Thursday that aluminum prices will have to improve along...
Baker and McKenzie advises Saudi Arabian Mining Company and Alcoa on alumina refinery in Kingdom of Saudi Arabia
Baker and McKenzie has advised Saudi Arabian Mining Company (Ma'aden) and Alcoa on their alumina refinery located at Ras Al Khair in the Kingdom of Saudi Arabia. The mine and refinery project is phase 2 of the integrated Ma'aden aluminium complex project. The finance documents for phase 1 of the...
Alcoa signs MoU with Angola to explore 750,000 mt/y aluminium smelter
Alcoa, the largest U.S. aluminium producer, said it had signed a memorandum of understanding with the government of Angola to explore development of a 750,000-metric-ton-per-year smelter. The aluminium smelter could use power from hydroelectric facilities under consideration by the government, and...
Alcoa Gets 50-Year Extension for Australia Coal Mining License
Alcoa Inc. (AA), the largest U.S. aluminum producer, received a 50-year extension to its coal mining license in Australia’s Victoria state, ensuring fuel to power its Point Henry aluminum smelter. Alcoa will be allowed to expand the size of its mine by 59 percent over the period to 665 hectares...
Ma'aden-Alcoa JV gets projects go-ahead
Financing for the second phase of development of Saudi Arabia’s first integrated aluminium complex and related infrastructure, sponsored by Saudi Arabian Mining Company (Ma'aden) and Alcoa Inc, has been approved. Both the mine and refinery are being developed by Ma'aden Bauxite and Alumina Company...
Aluminium good business in long run
Prospects for the aluminium industry have worsened in the short term, with prices and margins weakening on fears of a global economic slowdown. Yet in the long term and the right environment, aluminium — used in a range of products from beverage cans to roofing — can be a good business. Natixis...
Govt keeps Alcoa waiting on Wagerup
Alcoa is yet to hear from the WA Government whether it has been granted a five-year approvals relief for the much-hyped $2.2 billion expansion of its Wagerup alumina refinery south of Perth. The original five-year environmental approval expired last month and even though Alcoa began applying for an...
Royal Boskalis Westminster acquires EUR 125 million contract in Surinam
Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract for the mining of bauxite in Lelydorp nearby Paramaribo, Surinam. The contract value is approximately € 125 million and the contract was awarded by Suralco L.L.C., an indirect joint subsidiary of Alcoa Inc. and Alumina Ltd. Work...
Alcoa and Century Aluminum to Benefit From Stabilized Prices and Skyrocketing Demand
Aluminum prices have fallen approximately 10 percent this year amid concerns that the global economic slowdown may cut demand for raw materials. While that number may be alarming, ten percent is the smallest drop among the six industrial metals traded on the London Metal Exchange. Aluminum demand...
Off-spec billet prompts shutdown at ABI
Alcoa Inc.’s ABI smelter in Bécancour, Quebec, has halted billet production as it seeks to resolve off-grade metal production problems. "We are experiencing technical issues at the ABI smelter in Quebec and have stopped producing billet while we work to resolve the situation," an Alcoa spokesman...
