Ghana puts bauxite, lithium and iron ore in the spotlight to woo Australian capital
Ghana has stepped up efforts to attract Australian investment into its growing critical minerals sector, pitching the country as a stable and reform-driven destination for mining and value-added mineral development at the 2026 Africa Down Under (ADU) Summit in Perth. The Ghanaian delegation was led...
Alcoa prices $2.6b senior notes for South32 bauxite, alumina and aluminium deal
Alcoa Corporation has set the price for a USD 2.6 billion senior notes offering to help finance the cash consideration for its proposed acquisition of South32’s bauxite, alumina, and aluminium assets . Along with the cash on hand, this debt is expected to provide permanent funding for the...
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Aluminium unit weighs down on Rio Tinto
RIO Tinto continues to rack up quarterly production records at its flagship Australian iron ore operations but has declared it will log a second-half loss at its struggling aluminium unit. The billions of dollars Rio has been investing in expanding its iron ore mines, railways and ports in Western...
Tomago smelter jobs to go mid-year
IN LITTLE more than six months 100 workers at Tomago Aluminium will be shown the door after falling aluminium prices and the rising Australia dollar led the company to restructure its operation. The smelter is a leading Port employer and the news marks an uncertain few months ahead for the...
State cash should go to Hunter smelter workers: Opposition
MONEY from a struggling state government scheme meant to attract new residents to regional areas should be redirected to support workers and businesses affected by job losses at Hunter aluminium smelters, the state opposition says. The Hydro-owned Kurri Kurri smelter and the Rio Tinto-owned Tomago...
Smelter cuts to flow onto dross plant
A Hunter Valley plant that recycles waste material from the Kurri Aluminium smelter will scale down its operations, in response to production cuts at the neighbouring plant. 150 jobs will go at the Hydro Aluminium smelter when one of the three potlines is shut down in a bid to rein in multi-million...
Trade of the Week: Output cuts boost aluminium
Overcapacity in the aluminium industry and the decline in the price of the metal since its peak in 2008 prompted two major producers to announce cuts in jobs and output last week, and the prospect of further cutbacks across the sector bodes well for commodity investors hunting for upside. Since...
Future Bleak for Australia’s Aluminium Smelter Sector
Although forecasts say global aluminium prices may go up for the first quarter of 2012, prospects are bleak for the aluminium sector in Australia. The Norsk Hydro aluminium smelter plant at Kurri Kurri closed on of its three potlines which would result in the lay off of 150 workers. The Tomago...
Barclays: Global aluminium-capacity closures now 1.3 million tons/year
Barclays Capital calculates that announced aluminium-capacity closures around the world now total 1.3 million metric tons per year. This includes capacity of 292,000 tons which has not been producing since 2009, around 342,000 tons of non-price-related closures and 85,000 tons per year of delayed...
600 smelter jobs at risk
The jobs of a further 600 aluminium smelter workers at Hydro’s Kurri Kurri aluminium smelter could be at risk, Hunter MP Joel Fitzgibbon has warned. Mr Fitzgibbon and his state Labor counterpart, Cessnock MP Clayton Barr, met with executives of the Norwegian-owned company on Thursday, a day after...
Aluminium: support but no bailout
Hunter MPs expressed support for soon-to-be unemployed workers and struggling aluminium manufacturers, but stopped short of pledging a bailout such as the taxpayer assistance offered to the car industry. Hunter MP Joel Fitzgibbon visited Norsk Hydro at Kurri Kurri yesterday. He said people had...
Hydro is considering to curtail production in Kurri Kurri, Australia
Norsk Hydro ASA is considering curtailing production at its Kurri Kurri aluminium plant in Australia. A consultation process has started with the local employees. "In response to the demanding situation, we are considering reducing aluminium production at Kurri Kurri. We will continue to stay in...
Resources sector leads the way as Australian shares recover
THE resources sector led a broad-based recovery in the Australian sharemarket yesterday, after China's Shanghai Composite continued to improve and Wall Street edged higher despite falls on European markets. Takeover activity helped the market, although some strategists warned of a challenging year...
Alcoa's surprising optimism lifts Alumina
ALUMINA shares were boosted yesterday when US aluminium giant Alcoa gave a buoyant outlook for aluminium markets and confirmed it was not looking at closing any Australian smelters. In kicking off the US reporting season, Alcoa logged a fourth-quarter loss of $US191 million ($185m) -- its first...
Rival Sours Rio’s Aluminum Sale Hopes
Rio Tinto’s hopes of selling its aluminum assets, possibly via an initial public offering or to a trade buyer, have taken a knock after a rival cast a spotlight on the headwinds facing the sector. Burdened by a strong Australian dollar and a soft macroeconomic environment, Norsk Hydro said...
250 jobs to go as smelters downsize in Hunter
Two aluminium smelters in the Hunter Valley are set to axe 250 jobs. Norwegian aluminium giant Norsk Hydro is blaming the high Australian dollar for plans to cut production at its Kurri Kurri smelter, with the loss of about 150 jobs. The company says the strength of Australia's currency relative to...
Tough times for Rio Tinto's Bell Bay plant
A PROTRACTED union battle and soft aluminium prices could pose a tough year for Rio Tinto's Bell Bay operation. The company wouldn't say whether the aluminium smelter was profitable but said there were no plans to downsize the 550-person workforce or cut production. Plans to offload the ageing...
Hydro Consider Reducing Aluminium Production in Australia
Norsk Hydro ASA is considering curtailing production at its Kurri Kurri aluminium plant in Australia. A consultation process has started with the local employees. "In response to the demanding situation, we are considering reducing aluminium production at Kurri Kurri. We will continue to stay in...
Norsk says may cut Australia aluminium output
Norwegian metals group Norsk Hydro is considering cutting production at its Kurri Kurri aluminium plant in Australia because of depressed metal prices, the company said. A consultation period with employees and union representatives at the 180,000-tonnes-per-year facility north of Sydney was...
Better outlook bolsters Alumina shares
ALUMINA has managed to avoid more share price savagery despite Alcoa, its partner in the AWAC global alumina alliance, confirming that the collapse in aluminium prices had resulted in a loss in the December quarter. Shares in the ASX-listed Alumina bounced 7.5¢ higher to $1.17 yesterday in response...
