TORONTO (miningweekly.com) – US aluminium refiner Alcoa was last week presented with the Industry Leadership Award for aluminium at the first ever Platts Global Metals Awards, for taking decisive action resulting in a substantial transformation or change of direction in the aluminium industry.

“It is extremely gratifying to be recognised for our leadership in the aluminium industry as we mark our 125th anniversary since our incorporation. This award is a tribute to our dedicated employees who have made Alcoa an industry leader,” CEO Klaus Kleinfeld said.

Executives and companies from 11 countries were selected as finalists for the awards, which recognise exemplary performance in nearly a dozen categories. Judging criteria for the industry leadership category included financial results, innovation, product quality, safety and strategic vision.

Winners were announced during a black-tie dinner held in London last week.

Alcoa earlier this month said it would shutter two potlines with a combined capacity of about 105 000 t and push back construction of a new potline at its Baie-Comeau smelter, in Quebec, as part of a revised modernisation plan for the smelter.

Alcoa also announced at the start of the month that it would review 460 000 t of smelting capacity over the next 15 months for possible curtailment, in an effort to maintain the company’s competitiveness, as aluminium prices have fallen more than 33% since their peak in 2011.

The company said the continued low aluminium price had forced it to permanently shut down the two potlines, which were among the highest-cost potlines in the company’s portfolio of plants, by August, and defer construction of the new potline from 2016 to 2019, subject to board approval.

The US’s largest aluminium refiner and products manufacturer added it would invest $275-million over the next three years to expand and convert capacity at its rolling mill in Alcoa, Tennessee, to support automotive producers’ plans to use more aluminium sheet to increase fuel efficiency, safety, durability and performance of cars and light trucks.

Alcoa said it wanted to meet the growing demand for light, durable and recyclable aluminium sheet for automotive production.

Alcoa had previously announced a $300-million expansion of its Davenport, Iowa plant, which was expected to be complete by the end of this year.