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Aluminium News
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... →
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... →
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... →
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... →
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. →
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... →
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... →
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... →
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... →
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%... →
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... →
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,... →
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. →
Rio Tinto flags changes to 2018 aluminium output after US sanctions
By: Reuters 18th April 2018 Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following US sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5% rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer... →
US Commerce Dept finds aluminium sheet imports from China subsidized – US trade group
By: Reuters 18th April 2018 The US Commerce Department on Tuesday made a preliminary determination that aluminium sheet imports from China benefit from unfair subsidies, the aluminium Association said. The Commerce Department calculated preliminary subsidy margins ranging from 31.20 to 113.30 percent of the value of the... →
Rio Tinto moves to comply with US sanctions, declares force majeure on Rusal contracts
By: Esmarie Iannucci 16th April 2018 Mining major Rio Tinto will declare a force majeure on certain contracts with the world’s second-largest aluminium producer, United Company Rusal, after the US government imposed sanctions against a number of Russian businessmen and corporations. Rio told shareholders that the company had... →
Rio to call force majeure on some Rusal-linked contracts
By: Reuters 14th April 2018 Rio Tinto said it will declare force majeure on certain customer contracts after the US imposed sanctions on its partner Russian aluminium producer Rusal. The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with US sanctions. →
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