https://www.miningweekly.com

More curtailments at Alcoa/Alumina JV

More curtailments at Alcoa/Alumina JV

Photo by Bloombeg

8th January 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Alumina said on Friday that US major Alcoa’s decision to curtail one-million tonnes of refining capacity from the joint venture (JV) Alcoa World Alumina & Chemicals (AWAC), was expected to improve the JV’s cost position and ensure its continued competitiveness in the prevailing market conditions.

Alcoa on Thursday reported that it would permanently close its 269 000 t Warrick Operations smelter, in Indiana, by the end of this quarter, and would curtail the remaining 810 000 t of refining capacity at its Point Comfort operations, in Texas.

The latest cutbacks in production would result in a total of 3.1-million tonnes of AWAC refinery curtailments since September last year, which also included operations in Suriname.

Alumina CEO Peter Wasow said on Friday that AWAC was expected to record a post-tax charge of about $53-million in the fourth quarter of 2015 in relation to the latest curtailment, of which 45% would be cash related.

In addition, AWAC would also record a post-tax charge of about $12-million in the first half of 2016, all of which would be cash related.

Meanwhile, Alcoa on Friday confirmed that its Wagerup alumina refinery, in Western Australia, had not suffered any major infrastructure damage as a result of a bushfire that had swept through the area earlier this week.

Power distribution to the plant was interrupted on Thursday, but had been restored, and the refinery was operating at a reduced rate.

However, operations at the Willowdale mine remained suspended, and Alcoa was hoping to inspect the mine and associated infrastructure once the area had been deemed safe.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.131 0.171s - 106pq - 2rq
Subscribe Now