Coal-heavy Australian aluminium vs renewables-led New Zealand: How Oceania is balancing decarbonisation
Oceania’s primary aluminium industry is facing a fragmented energy transition. While Australia, the leading aluminium producer of the continent, has abundant renewable resources and a well-established aluminium value chain, its smelters remain significantly more dependent on fossil-fuel-based...
Can the US afford to cut Canada off? 75% aluminium and $100b energy tell the story
The US aluminium industry’s dependence on Canada extends far beyond primary aluminium imports. While Canada supplies around 75 per cent of US imported primary aluminium, covering roughly 60 per cent of the country’s annual aluminium usage, it is also a major supplier of crude oil, natural gas and...
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Earnings shine tarnishes
ALUMINA Ltd (AWC) has warned that higher energy and raw material costs, and the strong dollar, are continuing to take the shine off the earnings boost from improved alumina and aluminium prices. The Melbourne-based group was commenting on its earnings outlook following the Monday release of second...
Norsk Hydro ASA (ADR) PINK:NHYDY Upgraded
Norsk Hydro ASA (ADR) PINK:NHYDY has been upgraded to a strong buy with a 2012 price target of $12 issued today by Shayne Heffernan. Norsk Hydro ASA (Hydro), incorporated in1905, is a resource rich, fully integrated aluminium company. The Company is a supplier of casthouse products, such as...
TEXT-Fitch Rates China Hongqiao 'BB'; Outlook Positive
Fitch Ratings has assigned primary aluminium manufacturer China Hongqiao Group Limited (Hongqiao) a Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB' with Positive Outlook, and a senior unsecured rating of 'BB'. The agency has also assigned Hongqiao's proposed senior unsecured notes an...
TEXT-Fitch Rates China Hongqiao 'BB'; Outlook Positive
Fitch Ratings has assigned primary aluminium manufacturer China Hongqiao Group Limited (Hongqiao) a Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB' with Positive Outlook, and a senior unsecured rating of 'BB'. The agency has also assigned Hongqiao's proposed senior unsecured notes an...
China says to close 2 mln T smelting capacity in 2011
China has ordered local governments to phase out a total 2.0431 million tonnes of aluminium, copper, lead and zinc smelting capacity in 2011 as part of a multi-year plan to crack down on energy-intensive and polluting industries. The target, contained in a statement on the Ministry of Industry and...
Nalco's non-core businesses to become separate entities
Public sector aluminium major, Nalco , will hive off its non-aluminium business — power and other mineral mining into separate entities after they have reached a critical size, its chairman, BL Bagra said in Kolkata on Friday. The company is looking at earning 25% of its total turnover to come from...
Nalco to set up subsidiaries
The National Aluminium Company Ltd (Nalco), a Navaratna PSU, is planning to set up two subsidiaries to run its power and non-aluminium business, a company executive said Friday. "We have already started diversifying into non-aluminium business. Apart from that, we are setting up power plants to...
Aluminium prices may go up 10% to $2,800 in medium term
Tracking crude oil, which is set to increase on the back of rising demand from emerging economies and supply concerns, global aluminium prices are expected to rise in the near to medium term. According to industry experts and analysts, aluminium may rise to $2,800 a tonne in a year from the present...
CO2 scheme 'depends on electricity'
Alumina Ltd says the government's carbon pricing scheme's effect on the local aluminium industry will depend on the treatment of electricity. The company said it had yet to see the full details of the proposed legislation and regulations, and that would determine whether the Australian aluminium...
Carbon tax to be 'major cost' to QAL
A shareholder in a central Queensland aluminium refinery says it has major concerns about the impact of the Federal Government's carbon tax plan. Five-hundred of the heaviest emitters in Australia will start paying an initial carbon price of $23 per tonne from July 1 next year but...
Outlook for aluminum production
Aluminum production increased year-on-year in the first quarter of 2011, both in China and in the rest of the world. Chinese production rose as producers re-started capacity that had been curtailed in the second half of 2010 in an effort to meet energy efficiency targets, according to a report from...
Rio Tinto Alcan signs long-term agreement allowing for further greenhouse gas emissions reductions
Rio Tinto Alcan's Vaudreuil alumina plant in Jonquière, Quebec could see a reduction of about 40,000 tonnes of greenhouse gas (GHG) emissions annually following the signing of a steam supply agreement with Elkem Metal Canada. This agreement will also reduce the plant's energy supply costs over the...
Nalco to infuse Rs 1,700 crore equity in Kakrapar N-plant
KOLKATA: Aluminium PSU major Nalco would infuse Rs 1,700 crore as equity in the Kakrapar nuclear power plant in Gujarat to pick up 49 per cent stake, a top company official said today. "Nalco will pick up 49 per cent equity at a price of Rs 1,700 crore in the Kakrapar nuclear power plant," CMD of...
Nod for Hindalco & Essar’s Mahan coal block soon
The much-touted and highly prolific Mahan coal block, on which two major projects of two big conglomerates are hinged, is expected to see light of the day very soon. According to sources in the know, the government is keen to clear the clouds of uncertainty hovering over the Mahan coal block...
Alcoa to invest USD 21 million in analysis of aluminum usage rate
Reportedly, Alcoa announced on July 1st 2011 to invest USD 21 million analysis of aluminum recycling, energy saving and emission reduction. The facility will occupy 35,000 square foot and will take new technology to melt the aluminum scrap to produce aluminum slab which will be used to produce new...
Rusal Electricity Costs Grew 43% in 1st Quarter, Vedomosti Says
United Co. Rusal’s electricity costs for its aluminum plants grew 43 percent in the first quarter of 2011, Vedomosti reported, citing a company representative. That amounted to a rise of $130 million in the first quarter from the last quarter of 2010, the newspaper said, citing a VTB Capital...
Brazil Government Prepares Aluminum Stimulus Package, Valor Says
The Brazilian government is preparing a stimulus package to guarantee domestic supply of aluminum so the South American country doesn’t have to depend on imports of the metal, Valor Economico said. The government is considering reducing energy costs and providing tax incentives for aluminum...
Brazil Government Prepares Aluminum Stimulus Package, Valor Says
The Brazilian government is preparing a stimulus package to guarantee domestic supply of aluminum so the South American country doesn’t have to depend on imports of the metal, Valor Economico said. The government is considering reducing energy costs and providing tax incentives for aluminum...
