EGA sticks to aluminium investment plans despite Iran war
LONDON – Emirates Global Aluminium is sticking with its investment plans to increase production and recycling of the metal despite the Iran war, the company's chief marketing officer said on Tuesday.
EGA, the largest aluminium producer in the Gulf, was forced to shut down its Al Taweelah smelter in the United Arab Emirates after an Iranian attack in late March. Overseas, it is planning to build the first new primary aluminium smelter in the United States in almost 50 years alongside Century Aluminum.
"I think from an investment point of view, nothing is really changing," Adel Abubakar said during a panel discussion at the CRU World Aluminium Conference on Tuesday. "We're ... obviously making sure we get everything in the UAE restarted and back up and running to support our customers globally. We export 90%."
"But in terms of the growth, I don't think anything changes. We're moving... on the recycling side. On the primary side, we obviously have announced the project in Oklahoma. That's moving on as planned," he said, adding that EGA hoped to break ground on the project this year.
EGA has a 60% stake in the US smelter, which the Oklahoma Department of Commerce expects to cost $4-billion. It is slated to produce 750 000 metric tons per year of aluminium, more than doubling current US production.
EGA's other smelter in the UAE, at Jebel Ali, has been operating as usual as the conflict rumbles on, Abubakar told Reuters on the sidelines of the conference.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
ROSOND provides fast, efficient, safe, and cost-effective drilling and grouting services to mining and exploration industries throughout Africa.
VISIT SHOWROOM
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
