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Aluminium News

Rusal appoints CEO, Q3 profit up as sanctions postponed

By: Reuters     5th November 2018 Russian aluminium giant Rusal has appointed a chief executive, it said on Monday, after reporting a 42% jump in third-quarter recurring net profit on the previous quarter as sanctions imposed by Washington were postponed. The US Treasury Department in April blacklisted billionaire Oleg Deripaska... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

ERG forecasts strong metals price recovery

By: Marleny Arnoldi     29th October 2018 Diversified miner Eurasian Resources Group (ERG) forecasts a strong metals price recovery ahead, including for copper, cobalt, aluminium, ferrochrome and iron-ore. “Our view that commodities have fallen foul of wider macroeconomic concerns and the changing geopolitical landscape was confirmed... 

South32 foresees short-term volatility, but long-term growth, sustainability 

By: Schalk Burger     25th October 2018 Diversified mining and metals company South32 on Thursday forecast short-term price volatility for the commodities it produces, but also highlighted its strong cash position and its work to further optimise its global portfolio of assets. In a speech delivered at the company’s 2018 annual general... 

Norsk Hydro Q3 beats forecast, Alunorte outlook still uncertain

By: Reuters     24th October 2018 Norwegian aluminium producer Norsk Hydro's third-quarter earnings far exceeded forecasts on Wednesday amid rising metals prices, but the company is still in the dark over when its key Brazilian alumina plant can return to full production. The company won permits from Brazilian authorities... 

Bosnian government to help keep Aluminij smelter on power grid

By: Reuters     19th October 2018 A Bosnian regional government will help to keep aluminium smelter Aluminij Mostar running, a Minister said on Friday, after heavy debt brought it to the brink of closure. Management at Bosnia's sole aluminium smelter had called for the Bosniak-Croat Federation to intervene after the business was... 

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

Major equipment for Guinea bauxite project delivered

By: Rebecca Campbell     19th October 2018 United Arab Emirates (UAE) group Emirates Global Aluminium (EGA) has announced that the single biggest piece of equipment for its Boké bauxite project has arrived in the Republic of Guinea, in West Africa. Boké is being developed by EGA subsidiary Guinea Alumina Corporation (GAC). The... 

Alcoa jumps on profit surprise, first share buyback since split

By: Bloomberg     18th October 2018 Alcoa reported third-quarter earnings that were double estimates and announced its first share buyback in more than a decade in a sign that the top US aluminum producer is weathering the trade war. Shares jumped 4.8% at 5:05 p.m. in New York as the company said it would buy $200-million of its... 

Alcoa to close two Spanish aluminium plants with job losses

By: Reuters     17th October 2018 Alcoa said on Wednesday it would close two of its three aluminium plants in Spain with a combined annual production of 180 000 metric tonnes, resulting in the lay off of almost 700 workers. The Aviles and La Coruna plants were two of the least productive due to intrinsic structural problems such... 

Rio Tinto to take hit on legacy alumina contracts

By: Esmarie Iannucci     12th October 2018 Diversified miner Rio Tinto has warned of a $178-million impact on its financials during the first half of 2018, due to its legacy alumina contracts. The miner supplies some 2.2-million tonnes of alumina under legacy contracts, which are priced at a percentage of the benchmark aluminium price. 

Rio Tinto to take hit on legacy alumina contracts

Mining Indaba intensely focused on driving capital into African mining 

By: Martin Creamer     11th October 2018 An investment pavilion will be introduced at the upcoming Investing in African Mining Indaba to drive capital into African mining with even greater intensity, MD Alex Grose said on Thursday. Speaking to Mining Weekly Online during a media roundtable, Grose also revealed that more time would be... 

Mining Indaba intensely focused on driving capital into African mining
Investing in African Mining Indaba MD Alex Grose spoke to Mining Weekly Online’s Martin Creamer about the upcoming event. Video, Video Editing and Photographs: Darlene Creamer

Rio Tinto to restart sale of Icelandic aluminium plant – sources

By: Reuters     10th October 2018 Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350-million, two sources familiar with the matter said. The assets include a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish... 

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

China aluminium exports to surge on trade war - CRU

By: Reuters     9th October 2018 Chinese aluminium exports are expected to surge in coming months and next year after Beijing boosted tax rebates as part of a package to soften the impact of a trade war with the United States, according to industry consultancy CRU. High Chinese exports of metals such as aluminium and steel in... 

Is the reign of Glencore’s billionaire copper king near its end?

By: Bloomberg     9th October 2018 Aristotelis Mistakidis is one of the world’s most powerful commodity traders. For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the US twice over.... 

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

Chinese delegation to witness proudly South African logging system
Samcodes Standards Committee chairperson Matt Mullins interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Hydro restarts Brazil alumina refinery at half capacity

By: Mariaan Webb     8th October 2018 Norwegian aluminium company Norsk Hydro will restart its Alunorte alumina refinery, in Brazil, at 50% capacity, following approval by federal environmental agency IBAMA to use its press filter technology for processing bauxite residues. The “exceptional” authorisation, which was granted on... 

Trump sanction hammer tested as US retreats from Rusal penalty

By: Bloomberg     8th October 2018 President Donald Trump’s attempt to wield US economic strength as a weapon against foreign adversaries is being tested as the Treasury Department struggles to contain the fallout from its sanctions against the world’s second-largest aluminum producer. The financial penalties imposed on Russia’s... 

Trump sanction hammer tested as US retreats from Rusal penalty
Oleg Deripaska

Brazil authorities question Hydro move to halt Alunorte operations

By: Reuters     5th October 2018 The Brazilian state of Para on Thursday said it was surprised when Norsk Hydro decided a day earlier to halt operations at Alunorte, the world's largest alumina refinery, and asked for a report explaining the decision. Brazilian regulators in February ordered Hydro to slash output by half at the... 

Macro disquiet drowns out signs of base metals shortages

By: Reuters     4th October 2018 Uncertainty about how metals demand will be hit by trade wars, rising US interest rates and a slowdown in China is weighing on industrial metals prices, submerging signals pointing to potential shortages. The index of copper and five other top industrial metals traded on the London Metal Exchange... 

Hydro shuts Brazil alumina refinery and bauxite mine

By: Mariaan Webb     3rd October 2018 Norwegian aluminium company Norsk Hydro on Wednesday announced that it would shut down its Alunorte alumina refinery and its Paragominas bauxite mine, in Brazil, owing to a dispute with authorities over water discharges from the refinery. The refinery – the world’s largest alumina producer – has... 

Hydro shuts Brazil alumina refinery and bauxite mine
The Alunorte alumina refinery in Brazil.

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

Norway to lift grid tariffs and halve discounts for big consumers by 2021

By: Reuters     1st October 2018 Norway's Statnett will lift electricity grid tariffs by 9% in 2019 and halve the discounts granted to its most power-intensive consumers within three years, it said in a statement on Monday. The grid operator is changing its tariff models in order to pay for investments in Norway's distribution... 

Indian aluminium producers seek higher import barriers

By: Ajoy K Das     28th September 2018 Indian domestic aluminium refiners are seeking tariff and non-tariff barriers to stem the rising tide of imports of the base metal into the country, which has led to lower sales by local metal producers. Major integrated aluminium refiners in the country, including State-run National Aluminium... 

Indian aluminium producers seek higher import barriers

Union says reached wage deal with Alcoa Australia, will end strike

By: Reuters     28th September 2018 Unionised workers at aluminium producer Alcoa's Western Australian operations on Friday agreed to end a strike that lasted more than six weeks after securing better job security provisions in a new wage agreement. Workers at two alumina refineries and three bauxite mines walked out on August 8... 

Union says meeting with Alcoa again over strike at Australian aluminium project

By: Reuters     26th September 2018 The union at Alcoa's aluminium operations in the state of Western Australia said it was meeting with the company again on Wednesday to try to resolve a strike that has lasted more than six weeks, after the firm last week revised an earlier offer. Unionised workers at two alumina refineries and... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

Hydro withdraws bid for Rio Tinto Iceland plant

By: Mariaan Webb     14th September 2018 Norwegian aluminium company Hydro has dropped its offer to buy Rio Tinto’s ISAL aluminium plant, in Iceland. The $345-million offer, announced in February and initially expected to close in the second quarter, also entailed a 53.3% share in Rio Tinto’s Aluchemie anode plant, in the Netherlands,... 

Bosnia's Aluminij calls for government help to ensure survival

By: Reuters     13th September 2018 Aluminij Mostar, Bosnia's sole aluminium smelter, is at risk from high alumina and electricity prices and only urgent government intervention can help it stay on line, its GM said on Thursday. Heavily-indebted and loss-making Aluminij, which is among Bosnia's top exporters, has narrowly avoided... 

Simmering Alcoa labour dispute morphed into 'clash of the titans'

By: Bloomberg     12th September 2018 Workers of the Alcoa-controlled Becancour smelter in Quebec stand guard under umbrellas outside the gates. Whenever a vehicle approaches, a pair scurries to take down the driver’s details and make sure there’s no scab laborer in disguise. The ritual, witnessed on a rainy August morning, has... 

Rushydro says sanctions cloud prospects for joining Rusal's smelter

By: Reuters     10th September 2018 Plans by Russia's power company Rushydro to join a new aluminium smelter project that Rusal wants to build in Siberia, have been complicated by international sanctions, Rushydro's head Nikolai Shulginov said on Monday. Rusal, ranked the world's No.2 aluminium producer after China's Hongqiao,... 

Rusal's August aluminium exports up 7% from July - Ifax

By: Reuters     6th September 2018 Russian aluminium producer Rusal, under US sanctions since April, increased its aluminium exports by 7% in August compared to the previous month, Interfax news agency said. Rusal, the world's second-largest aluminium producer, saw its exports and supply chain crippled after Washington put the... 

Rusal's August aluminium exports up 7% from July - Ifax

Norsk Hydro working to convince Brazil to resume full output at Alunorte refinery

By: Reuters     6th September 2018 Norsk Hydro is working to convince Brazilian authorities to allow it to resume full output at its Alunorte plant, the world's biggest alumina refinery, following two deals pledging social and environmental action, a top executive said. The deals, signed late on Wednesday in Brazil, were "an... 

Russia may buy aluminium for state stocks to support Rusal

By: Reuters     28th August 2018 Russia has a plan to support world No.2 aluminium producer Rusal against US sanctions put in place in April, including by purchasing the metal for state stocks, Industry Minister Denis Manturov told reporters on Tuesday. The US Treasury Department placed Russian businessman Oleg Deripaska and... 

Russia may buy aluminium for state stocks to support Rusal

South32 to consider South African energy coal ownership options in Sept

By: Marleny Arnoldi     23rd August 2018 Diversified miner South32 will start a process to broaden the ownership of its South Africa Energy Coal (SAEC) business, in September. “We have been very clear that we don’t plan to own an interest in energy coal in the long term, and it has never been a better time in terms of where South... 

Rusal says board backs change of domicile to Russia

By: Reuters     17th August 2018 Russia's sanctions-hit aluminium giant Rusal said on Friday its board had discussed and approved a change of domicile from Britain's Jersey to Russia in order to take advantage of new special tax regulations. Rusal, which was hit with US sanctions in April that seriously disrupted aluminium... 

Sweden's Granges halts plans for US aluminium joint venture

By: Reuters     17th August 2018 Sweden's Granges put on ice on Friday plans to form an aluminium manufacturing joint venture in the United States with Japan's Mitsubishi Aluminum Co, saying that the project was less attractive in "current circumstances". It did not specify what circumstances it was referring to though a Granges... 

Sweden's Granges halts plans for US aluminium joint venture

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