Hydro Energi and Statkraft have signed a long-term power purchase agreement (PPA) securing an annual electricity supply of 876 GWh from 2031 to 2040. The agreement will provide Hydro with around 8.8 TWh of power during the contract period, with deliveries planned in Norway’s electricity price area...
The future of Bell Bay Aluminium smelter in Tasmania remains dependent on the outcome of negotiations over its electricity supply agreement. Federal Industry Minister of Australia Tim Ayres has stopped short of committing federal funding similar to the support extended to the Tomago aluminium...
Grow with
AL Circle
Norsk Hydro ASA has signed a USD 1,700 million syndicated revolving multi-currency credit facility with a syndicate of 13 international banks. The facility is for general corporate purposes. Since 2007, Hydro had a USD 1,700 million revolving credit facility with maturity in July 2014. This...
HYCAST AS is a well-recognized Casthouse Solution provider from Norway with extensive experience and know-how gained from numerous projects world-wide, both within Hydro Aluminium and with other aluminium companies. AlCircle Team interacted with Mr Helge Jansen – Managing Director and Einar...
Vale SA (VALE), the world’s biggest iron ore exporter, completed the sale of all of its 22 percent stake in aluminum-maker Norsk Hydro ASA (NHY) for $1.82 billion after an over-allotment option was exercised. Vale sold the additional 40.7 million Hydro shares for 25 kroner ($4.04) each, the Rio de...
Vale SA (VALE), the world’s biggest iron ore exporter, plans to sell its stake in aluminum-maker Norsk Hydro ASA (NHY) for as much as $1.8 billion, about half the holding’s value when the Brazilian company acquired it in 2011. Vale expects to sell as much as 447.7 million shares, or all its 22...
Europe needs to add 600,000 tpy of aluminium recycling capacity by 2020, Norsk Hydro head of recycling Roland Scharf-Bergmann said. Speaking at Metal Bulletin’s 21st recycled aluminium conference in Dubai, he said that, as the level of primary aluminium production in Europe falls as a result of the...
Sapa has completed the divestment of its aluminium extrusion operations in Raufoss, Norway, and its affiliated fabrication plant in Vetlanda, Sweden, to SKA Invest AS. The sale agreement, signed on September 10 this year, has been formally approved by the European Commission and the competition...
Premier Pauline Marois said Wednesday she would enter negotiations with Alcoa Inc., which has said its three Quebec smelters would no longer be competitive if Hydro Québec raises its electricity costs by a reported 60 per cent. "We should reassure Alcoa employees, not scare them," Marois said in...
Hydro has entered into a binding agreement to sell its aluminium rolling mill in Malaysia to Nippon Foil Mfg. Co., Ltd. (NFM), a wholly owned subsidiary of UACJ Corporation, based in Japan. The transaction value is USD 20 million. The aluminium foil plant in Pasir Gudang, Malaysia started...
The council members will share their insights and views on the challenges facing today's corporations and the business community. The CFOs, who collectively manage more than $2.9 trillion in market capitalization, will also take part in quarterly sentiment surveys which will provide insight into...
Norsk Hydro, one of the world's biggest aluminium makers, said its July-September core earnings rose more than expected thanks to solid performance at its primary aluminium and power production divisions. At the same time, Hydro adjusted its 2013 forecast for global primary aluminium demand growth,...
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 ASA's part-owned aluminium smelter in Slovakia, Slovalco, has signed a Power Purchase Agreement (PPA) for power supply with Slovenské Elektrárne. Following signing of a Letter of Intent for power supply, announced on July 18, Slovalco has entered into a PPA for electricity supply in the...
Slovak aluminium producer Slovalco and the country's dominant power producer Slovenske Elektrarne (SE) have reached an agreement on a new electricity supply contract, an important step towards keeping the aluminium smelter afloat, Pravda daily reported. Under the new contract, SE will supply a...
Relying on hydroelectric power, the nine aluminum smelters in Quebec have reduced their carbon footprint to “the lowest in the world,” an industry spokesman told a provincial government commission studying energy options on Monday. But “a green ingot gives the industry nothing,” Jean Simard,...
Hydro and Agder Energi have signed a Letter of Intent (LOI) for the possible establishment of a jointly owned company to operate and further develop their combined assets in the Otra River, southern Norway, where Hydro recently acquired the Vigelands Brug hydropower plant. The LoI is conditional on...
A potential shutdown of the Tiwai Pt aluminium smelter would barely dent the value of Meridian Energy, but Labour/Green electricity reforms would take a big bite out of the power giant. A new research report suggests the value of Meridian shares would fall just 2 cents if the smelter shut down,...
The aluminium industry has a job to do in promoting the metal’s key advantages over others in order to stay ahead of its competitive peers, a senior executive at Norsk Hydro said. The benefits of recycling and sustainability need to be better communicated ,Oliver Bell, executive vice president of...
Norwegian aluminium producer Hydro has asked Enova for support in connection with a project to test next-generation aluminium electrolysis technology at a pilot plant in Karmøy, Norway. The plant will have annual production capacity of 70,000 metric tons with the aim of testing the world’s most...
