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Aluminium News
LME ready to address flaws in its metal storage rules
By: Reuters 18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... →
With sanctions lifted, Rusal to invest in US aluminum mill
By: Bloomberg 16th April 2019 Just months after being freed from US sanctions, Russia’s largest aluminum maker plans to invest in a new aluminum rolling mill in Kentucky. United Co. Rusal, controlled by billionaire Oleg Deripaska until the US Treasury forced him to reduce his stake earlier this year, intends to invest up to... →
West African mining rising steadily
By: Mamaili Mamaila 12th April 2019 Mining activity in West Africa is increasing and this trend is likely to continue. New mines have been established in Mali over the past few years, as well as in countries, such as Liberia, which are not traditionally associated with mining, says engineering consulting company SRK Consulting... →
Mnuchin says Deripaska and family are minority Rusal owners
By: Bloomberg 10th April 2019 Treasury Secretary Steven Mnuchin said that Russian billionaire Oleg Deripaska and his family together own less than a majority of shares in United Co. Rusal, the world’s second-largest aluminum producer, after a settlement to get the company out from under US sanctions. The deal left Deripaska... →
Norsk Hydro has April 12 court hearing on partly shut Brazil plant
By: Reuters 5th April 2019 A Brazilian federal court has scheduled an April 12 hearing on the year-long production embargo at Norsk Hydro's Alunorte alumina refinery in Brazil, the Norwegian company said on Friday. The plant has operated at half of its capacity since February 2018 after a spill that led regulators and... →
Rio Tinto and Alcoa plan R&D facility in Quebec
By: Esmarie Iannucci 3rd April 2019 An aluminium joint venture (JV) between majors Rio Tinto and Alcoa has flagged a site for a new research and development facility in the Saguenay–Lac-Saint-Jean region in Québec. The Elysis JV is working to commercialise a breakthrough technology that eliminates all direct greenhouse gases from... →
Hydro's Norwegian aluminium plant faces months to fully restore output
By: Reuters 2nd April 2019 Norsk Hydro may take months to return its Karmoey aluminium plant in western Norway to full capacity following a power outage that cut production by about 10%, the company said on Tuesday. Hydro on Monday switched off 45 of the 288 aluminium cells at the plant's main production line,... →
Chalco leapfrogs Rusal as second-biggest listed aluminium producer
By: Reuters 29th March 2019 China's Chalco said on Friday it boosted annual aluminium output by 16% in 2018, putting it ahead of Russia's Rusal as the world's second-biggest publicly traded producer of the metal. The increase underscores China's growing dominance of the global aluminium market, as the world's biggest... →
Norsk Hydro, Brazil prosecutor agree steps that could lead to Alunorte's full restart
By: Reuters 27th March 2019 Norsk Hydro has agreed with Brazil's federal prosecutor to have a third-party technical assessment that, if positive, could lead to it resuming full production at the half-shut Alunorte alumina refinery, the company said on Tuesday. The refinery, the world's biggest, has been operating at half... →
Potanin plans talks with Rusal over cutting Nornickel payout
By: Bloomberg 27th March 2019 Vladimir Potanin is determined to start talks on cutting dividends at MMC Norilsk Nickel, even though management upheaval at the miner’s other key shareholder United Co. Rusal makes the outcome uncertain. “The company has big plans,” Potanin, Nornickel’s biggest shareholder and CEO, said in an... →
LME waives listing fees for cobalt brands for six months
By: Reuters 26th March 2019 The London Metal Exchange (LME) on Tuesday suspended listing fees for new cobalt brands for six months to encourage interest from producers of the element widely used in rechargeable batteries. The LME, the oldest and largest market for industrial metals, launched a cash-settled cobalt contract... →
South32’s Mozal pledges $250 000 to aid Cyclone Idai recovery efforts
By: Tasneem Bulbulia 22nd March 2019 South32’s Mozal Aluminium smelter, which is located in the Mozambique capital Maputo, has pledged a $250 000 donation to support recovery efforts following the devastating impact of Cyclone Idai in the country. Commenting in a statement on Friday, Mozal VP Samuel Samo Gudo said the company had... →
Pure Alumina buys Canadian player
By: Esmarie Iannucci 21st March 2019 ASX-listed Pure Alumina has made a C$25.75-million offer for privately held Polar Sapphire, which would allow the Australian company to fast-track its plans to start the commercial production of a 99.99% high purity alumina (HPA) in 2019. Pure Alumina is offering C$13.75-million worth of company... →
Norsk Hydro is restarting some systems as deliveries seen secure
By: Bloomberg 20th March 2019 Norsk Hydro is restarting some systems in its extrusion and rolled products areas to ensure deliveries to customers after the Norwegian aluminum maker was hit by a massive ransomware cyber attack. The company on Wednesday said it had detected the “root cause” of the attack and was making... →
Climate challenge harder than it seems, JP Morgan executive warns
By: Bloomberg 20th March 2019 The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at JP Morgan Asset Management told clients this week – and changing that will require far harder choices than most people realise. In his annual 'Energy Outlook' report, Michael Cembalest, chairperson of... →
Hulamin reviews extrusions business, rolled products reaches record volumes 
By: Marleny Arnoldi 19th March 2019 JSE-listed aluminium supplier and exporter Hulamin’s rolled products division reported a “superb” manufacturing performance for the year ended December 31, 2018, increasing its sales by 6% to 228 000 t. This third consecutive year of record sales volumes from rolled products helped to offset... →
Hulamin expects 2018 headline earnings of 91c a share
By: Marleny Arnoldi 18th March 2019 JSE-listed aluminium supplier and exporter Hulamin expects to report a 4% year-on-year decrease in headline earnings a share to 91c for the year ended December 31, 2018. In anticipation of reporting its full-year results on March 19, the company on Monday said it expected to report a loss a... →
Deripaska sues over US sanctions, claims $7.5bn loss
By: Bloomberg 18th March 2019 Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his... →
Lengthy tariff fight leads Canada to fund smaller metals firms
By: Bloomberg 12th March 2019 Canada is announcing funding for the country’s smaller steel and aluminum producers as a tariff fight with the US drags on. Innovation Minister Navdeep Bains said Monday Canada will make available C$100-million in “non-repayable contributions” to small- and medium-sized steel and aluminum... →
With sanctions lifted, Rusal says it's business as usual
By: Reuters 7th March 2019 Rusal, the world's largest aluminium producer outside China, said on Thursday its business was back to normal after U.S. sanctions were lifted in January, and reiterated a positive outlook for the global aluminium market. The company said sales were gradually returning to levels seen before the... →
Retrenchments at South32’s Hillside smelter could affect up to 500 jobs – Solidarity
By: Nadine James 19th February 2019 Trade union Solidarity on Tuesday said it had received a retrenchment notice from South32’s Hillside aluminium smelter, in Richards Bay. The trade union stated that the retrenchment process could impact the lives of up to 30 000 people and, consequently, the entire Richards Bay area. →
South32 finalising preferred list of coal mine bidders
By: Martin Creamer 14th February 2019 The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African... →
South32 CEO Graham Kerr
Xolobeni judgment continues to confound
By: Martin Creamer 11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other. But the... →
Shares in Russia's Rusal jump 12% on upbeat aluminium demand outlook
By: Reuters 8th February 2019 Russian aluminium giant Rusal expects demand for aluminium to grow in 2019 and sees potential for prices to rise, it said on Friday, sending its Hong Kong-listed shares up 12% to a 10-month high. Shares in Rusal, the world's largest aluminium producer outside China, hit their highest since April... →
Norsk Hydro's Q4 hit by restricted Brazil output, lowers dividend
By: Reuters 7th February 2019 Norwegian metals producer Norsk Hydro warned it will miss its 2019 savings targets after falling well short of fourth-quarter earnings expectations hit by restricted output in Brazil and higher costs. Underlying operating profit fell 85% to 534-million Norwegian crowns ($62.48-million) versus... →
Lesedi to assist Mozal in its aluminium expansion project
By: Kim Cloete 7th February 2019 South African engineering, procurement and construction (EPC) company Lesedi has recently been awarded a contract to assist South32’s Mozal aluminum plant in its expansion project. The $38-million AP3XLE energy efficiency project was approved in the third quarter of 2017 and started the rollout... →
Sanctions relief for Deripaska's Rusal cheers rival tycoon
By: Bloomberg 31st January 2019 When the US lifted sanctions on United Co. Rusal, the conditions imposed on billionaire Oleg Deripaska provided relief for rival Russian tycoon Vladimir Potanin. The two magnates have waged a decade-long battle for control of Russian mining giant MMC Norilsk Nickel. That feud would appear to be... →
Trump lifts Rusal, EN+ sanctions as Glencore shuffles stake
By: Bloomberg 28th January 2019 The US Treasury Department lifted sanctions on three firms tied to Russian tycoon Oleg Deripaska, including United Co. Rusal, a move that will provide relief to the global aluminum market. The metal fell in London. Deripaska, an ally of Russian leader Vladimir Putin, will remain under US... →
Indian govt pushes for import duty hikes on primary aluminium, scrap
By: Ajoy K Das 24th January 2019 India’s Commerce Ministry is pushing for a hike in alumunium and aluminium scrap import duties in the forthcoming national Budget to offer protection to domestic producers reeling from a sharp spike in inward shipments of the non-ferrous metal. There have been numerous representations from... →
To meet climate goals, world urged to reuse natural resources
By: Reuters 22nd January 2019 More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday. Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass -... →
South32 delivers solid Q2 results; announces leadership shuffle
By: Esmarie Iannucci 17th January 2019 Diversified miner South32 has reported a solid production performance in the December quarter, with the miner maintaining its production guidance for the full year to June 2019. “We achieved a strong quarter of production, maintaining full-year guidance for all operations with the exception of... →
South32 CEO Graham Kerr
GOP senate backs end to sanctions on firms tied to Putin ally
By: Bloomberg 17th January 2019 The Senate blocked a Democratic bid to force the Treasury Department to keep sanctions on three Russian companies linked to oligarch Oleg Deripaska, as most Republicans backed the Trump administration’s plan to lift the penalties. The 57-42 Senate vote Wednesday was three short of the 60 needed... →
Alcoa beats profit estimates on strength in alumina segment
By: Reuters 17th January 2019 Top US aluminum producer Alcoa Corp beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. The company's shares were down 1.6% in extended... →
Senate advances measure to keep sanctions on Deripaska companies
By: Bloomberg 16th January 2019 The Senate advanced a resolution to block the Treasury Department from lifting sanctions on three Russian companies linked to oligarch Oleg Deripaska, with 11 Republicans aiding Democrats in a rare split with President Donald Trump. The 57-42 vote to take up the measure Tuesday came shortly... →
Norsk Hydro says Alunorte production embargo lifted
By: Reuters 16th January 2019 Norwegian aluminium-maker Norsk Hydro said on Tuesday that Brazil's northern state of Para has lifted a production embargo on its Alunorte alumina refinery, but noted that full production will not resume until a federal court follows suit. The plant is operating at half capacity after admitting... →
Senate democrats will force vote on sanctions of Deripaska firms
By: Bloomberg 14th January 2019 US Senate Minority Leader Chuck Schumer says he will force a vote on a measure to block the Treasury Department’s plans to lift sanctions on three Russian companies linked to oligarch Oleg Deripaska, who is reported to be under scrutiny by Special Counsel Robert Mueller in his probe of Moscow... →
Mnuchin defends lifting sanctions on firms tied to Putin ally
By: Bloomberg 11th January 2019 Treasury Secretary Steven Mnuchin signaled he won’t back down from plans to lift sanctions on three companies tied to an ally of Russian President Vladimir Putin even as he said the Trump administration would consider delaying the move to accommodate concerns raised by lawmakers. Mnuchin denied... →
Democrats ask for delay in easing sanctions linked to Deripaska
By: Bloomberg 9th January 2019 Seven new Democratic chairmen of House committees demanded Tuesday that Treasury Secretary Steven Mnuchin hold off on the planned easing of sanctions against three companies tied to Russian billionaire Oleg Deripaska. “As the chairs of committees with oversight jurisdiction over the US response... →
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