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Aluminium News

Ukrainian workers sweat over fate of Deripaska's alumina plant

By: Reuters     31st May 2018 Ukraine's decision to put sanctions on one of Russia's wealthiest tycoons worries Vira Dudnyk. A driver at an alumina plant in southern Ukraine, she fears a tug-of-war between Kiev and Moscow may leave her jobless and on the streets. "We are afraid if the plant is closed, what are we left with,... 

Nalco firms up capex for current financial year

By: Ajoy K Das     31st May 2018 Indian government-owned aluminium producer National Aluminium Company Limited (Nalco) has set a capital expenditure (capex) target of $164-million for the 2018/19 financial year. According to an agreement signed with the Mines Ministry, the capex will be increasing on adding a... 

EU, US trade envoys meet on tariffs, outcome unclear

By: Reuters     30th May 2018 European Trade Commissioner Cecilia Malmstrom and US Commerce Secretary Wilbur Ross met in Paris on Wednesday to discuss looming US import tariffs on EU steel and aluminium, the European Commission said, but declined to speculate on the final outcome. US President Donald Trump has imposed... 

Insimbi achieves higher revenue, gross profit in FY18

By: Simone Liedtke     29th May 2018 JSE-listed Insimbi Refractory and Alloys Supplies will be adding a significant value uplift to its chrome and aluminium businesses when it starts supplying powder-makers with a lower-grade aluminium content powder. It will start taking orders for this product in July, Insimbi CEO Fred Botha told... 

Guinea retains mining minister in Cabinet reshuffle

By: Bloomberg     28th May 2018 Guinea’s President Alpha Conde appointed a new 33-member Cabinet in which Abdoulaye Magassouba was retained as mines and geology minister, according to a decree read on the West African country’s state-owned broadcaster on Saturday. Mamady Camara, who was Guinea’s ambassador to South Africa, was... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

Rusal warns on ability to operate from October as CEO quits

By: Bloomberg     24th May 2018 United Co Rusal’s CEO resigned after less than three months in the role, as the Russian firm warned that trade partners and international lenders could cut ties with the company if US sanctions aren’t lifted after October 23. The world’s biggest aluminum producer outside China also said the... 

Rusal warns on ability to operate from October as CEO quits

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Gamsberg producing by mid-year – Vedanta
Photo by Dylan Slater
Vedanta chairperson Anil Agarwal

Japan, Russia, Turkey bring potential US tariff retaliation to $3.5bn

By: Reuters     22nd May 2018 Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said on Tuesday, bringing the total US tariff bill to around $3.5-billion annually. The three countries detailed their compensation claims in... 

Rusal says Deripaska has not formally resigned; reiterates sanctions may hit business

By: Reuters     21st May 2018 Russia's largest aluminium producer Rusal said on Monday it has not received a formal resignation from director Oleg Deripaska, and reiterated that its business and prospects may be affected by US sanctions. Washington imposed sweeping sanctions last month on some of Russia's biggest companies... 

Company believes commodities will regain positive momentum

18th May 2018 The commodities markets have been taken aback by rising uncertainties, including an early February equity market sell-off and the trade conflict between the US and China. As the second quarter unfolds, some of these uncertainties should be easier to interpret, however, price volatility and... 

Company believes  commodities will regain positive momentum
Photo by Bloomberg
GROWTH POSSIBILITY Despite some market uncertainty, the global economy is expected to grow at its fastest pace since 2011

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Rio and Alcoa team up with Apple in zero carbon aluminium smelting drive

By: Esmarie Iannucci     11th May 2018 Mining major Rio Tinto has teamed up with aluminium producer Alcoa to develop the world’s first carbon-free aluminium smelting process. The new process will produce oxygen and replace all direct greenhouse-gas (GHG) emissions from the traditional aluminium smelting process. 

Rio and Alcoa team up with Apple in zero carbon aluminium smelting drive

Rusal's first quarter earnings jump, but warns on sanctions impact

By: Reuters     11th May 2018 Russian aluminium giant Rusal boosted first-quarter recurring net profit on Friday amid stronger aluminium prices, but warned that sanctions imposed by the United States in April could harm its business. Washington last month announced sanctions on Russian billionaire Oleg Deripaska and several... 

Rusal's first quarter earnings jump, but warns on sanctions impact

Gold industry running risk of becoming irrelevant – Bristow

By: Martin Creamer     10th May 2018 The gold mining industry is running the risk of becoming irrelevant to the investment community. “It hasn’t delivered much value for a long time,” Randgold Resources CEO Dr Mark Bristow commented to Mining Weekly Online during an interview to mark the company’s presentation of first-quarter... 

Gold industry running risk of becoming irrelevant – Bristow
Photo by Creamer Media
Randgold Resources CEO Dr Mark Bristow

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Agarwal encouraging Anglo to accentuate South Africa link
Photo by Dylan Slater
Anil Agarwal (right) and Martin Creamer

Power market restored to Rusal's Swedish aluminium smelter

By: Reuters     8th May 2018 Europe's leading power market Nord Pool restored access on Tuesday to Rusal's Swedish aluminium smelter after it was suspended from trading in the wake of US sanctions on the Russian company. Nord Pool suspended Rusal's Kubal smelter from trading on its exchange on April 18 due to violations of... 

Alcoa ready to resume labour talks for Canada aluminium smelter

By: Reuters     5th May 2018 Aluminium producer Alcoa Corp said on Friday that management at its Quebec smelter have notified the provincial labour ministry they are ready to resume mediated contract talks with the United Steelworkers union. The smelter, which produces some 430 000 tonnes of aluminium annually, has been... 

Greece's Mytilineos expects positive alumina performance

By: Reuters     3rd May 2018 Mytilineos sees positive prospects for its alumina business in Greece despite surging alumina prices, the Greek industrial group said on Thursday. Its vertically-integrated feed and lower production costs have shielded it and created "positive prospects" for its alumina business in the short... 

South Africa views itself as ‘collateral damage’ in global trade war

By: Terence Creamer     2nd May 2018 Department of Trade and Industry (DTI) believes South Africa has become “collateral damage in the trade war of key global economies” after the country was excluded from a list of countries exempted from tariffs imposed by the US on steel and aluminium imports. While insisting that the country... 

South Africa views itself as ‘collateral damage’ in global trade war
US President Donald Trump

Canada says US tariffs hurt jobs; aluminium industry worried

By: Reuters     1st May 2018 Canada has repeated its position that imposing punitive trade measures would hurt jobs in both countries, in reaction to US President Donald Trump's decision to postpone steel and aluminium tariffs that were set to go into effect on Tuesday. The Trump administration said on Monday that the 25%... 

Canada says US tariffs hurt jobs; aluminium industry worried

Metals maker Arconic slashes forecasts, shares slide

By: Reuters     1st May 2018 Aluminium products maker Arconic Inc slashed its 2018 forecasts for profit and free cash flow on expectations that the price of the metal would remain high this year due to sanctions on Russian supplies and a 10% duty on aluminium imports. Shares of the company, which makes aluminium products... 

Rusal shareholder calls for new strategy in response to US sanctions

By: Reuters     30th April 2018 SUAL Partners, a co-owner of Russian aluminium producer Rusal, said on Monday that Rusal's board and shareholders needed to start work as soon as possible on a new strategy after the company was hit by US sanctions. Washington this month imposed sanctions on billionaire Oleg Deripaska and several... 

Here's how the EU will punch back against Trump trade tariffs

By: Bloomberg     30th April 2018 President Donald Trump will decide by midnight Monday if the US will slap permanent aluminum and steel tariffs on the European Union, inflaming trans-Atlantic tensions and raising the chances of a global trade conflict. Washington imposed a 25% tariff on steel and 10% on aluminum products on... 

Here's how the EU will punch back against Trump trade tariffs
Photo by Bloomberg
US President Donald Trump

Deripaska offers to cut En+ stake in bid for sanctions relief

By: Bloomberg     30th April 2018 Oleg Deripaska offered to make concessions on his ownership of En+ Group Plc, which owns almost half of Russian aluminum giant United Co Rusal, as he seeks to cast off the yoke of US sanctions. The Russian billionaire agreed “in principle” to cut his stake in En+ to less than 50% and plans to... 

Aluminium bears on treacherous ground as supply shocks continue

By: Bloomberg     26th April 2018 One of the few hedge funds to survive the downswing in the commodity supercycle has a lesson for traders trying to navigate whipsawing aluminium prices: go short at your peril. While supply fears faded this week after the US eased sanctions against United Co Rusal, traders should be alert to the... 

Russia, betting on EU-Trump talks, keeps powder dry in Rusal row for now

By: Reuters     26th April 2018 Moscow is holding off on taking retaliatory measures against the United States for imposing sanctions on Rusal, hoping the EU can persuade Washington to ease restrictions against the world's second largest aluminium producer further, sources told Reuters. The United States on Monday gave... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

By: Henry Lazenby     25th April 2018 A new report that fine-combed the national pollutant release and transfer registers (PRTRs) of Canada, the US and Mexico to explore pollutant data reported by industrial facilities, has pointed to the critical need to standardise the way information is collected across the three jurisdictions,... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

Aluminium maker Hydro to miss cost cutting target amid Brazil woes

By: Reuters     25th April 2018 Norwegian aluminium-maker Norsk Hydro will miss its 2018 cost-cutting target as its troubled Brazilian operation continues to work at reduced capacity following a spill in February from a major plant, it said on Wednesday. A regulatory order to cut output from Hydro's Alunorte, the world's... 

US aluminium trade group calls on Trump to avoid quotas

By: Reuters     25th April 2018 A US aluminium trade group said US manufacturers rely on foreign metal and called on the US government to avoid quotas on nations exempted from tariffs on aluminium imports. US President Donald Trump last month announced a 10% tariff on aluminium imports to counter what he has described as... 

US extends deadline for Rusal sanctions, aluminium prices dive

By: Reuters     23rd April 2018 The US on Monday gave American customers of Russia's biggest aluminium producer more time to comply with sanctions, and said it would consider lifting them if United Company Rusal Plc's major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. Aluminium prices on the London... 

US grants reprieve to Rusal, says will weigh impact on allies

By: Reuters     23rd April 2018 The United States on Monday opened the door to sanctions relief for Russian aluminum producer United Company Rusal Plc, saying it was considering a company bid to avoid US sanctions and would weigh the impact on American allies and partners. 

Sanctions-hit Russian firms ask government for $1.6bn in liquidity – Interfax

By: Reuters     20th April 2018 Russian companies hit by US sanctions, including aluminium giant Rusal, have asked for $1.6-billion in liquidity support from the government, Finance Minister Anton Siluanov was quoted by Interfax news agency as saying on Friday. The US on April 6 imposed sanctions against several Russian... 

Norway's Hydro notifies Rusal of possible force majeure

By: Reuters     20th April 2018 Aluminium maker Norsk Hydro may declare a force majeure on contracts it has with Russia's United Company Rusal due to recently imposed US sanctions, the Norwegian company said on Friday. "Hydro has notified Rusal it may be necessary to declare force majeure on certain contracts, as the company... 

Kazakhstan seeks new alumina markets amid Rusal's troubles

By: Reuters     20th April 2018 Kazakhstan is looking to open up new markets for its alumina exports, concerned US sanctions on Russian aluminium giant Rusal could hit business and jobs. Eurasian Resources Group (ERG), a company part-owned by the Kazakh government, produces 1.5-million tonnes a year of alumina, which is used... 

Sanctions fallout upends metals as aluminum, nickel burst higher

By: Bloomberg     19th April 2018 The turmoil unleashed by US sanctions against United Co. Rusal reverberated in metals markets, sending aluminium and nickel to multi-year highs. Global metals markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, which set off a rush for alternative supplies and... 

Canada's Alouette aluminium smelter denies force majeure rumours

By: Reuters     18th April 2018 The Alouette aluminium smelter in Canada, the biggest in the Americas, does not plan to declare force majeure, a spokesperson said on Wednesday, denying a market rumour. There was speculation in the market that Alouette may have to take the measure due to a shortage of raw material alumina. 

Russia sanctions throw aluminium supply chain into chaos

By: Bloomberg     18th April 2018 The US sanctions on United Co. Rusal that have sent aluminium prices surging should be great news for rival producers like Rio Tinto Group. Spoiler alert: they’re not. 

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