10 March
London,
Dow Jones

LONDON (Dow Jones)-U.S.-based aluminum company Alcoa Inc. (AA) expects its bauxite mine along the Amazon River in the town of Juruti, Brazil, to produce 2.6 million metric tons a year by August, with the possibility of expanding to 12 million tons in the future.

The company didn’t specify when it plans to do that by.
 
Alcoa also said it has completed over half the mine’s construction. The mine’s construction license has been renewed and Alcoa will apply for its operational license in May 2008.

So far Alcoa has spent 1.6 billion Brazilan reals ($908 million), on the project.

Construction is expected to be completed by August, with the first barge carrying a load of the mineral down the Amazon River to the eastern coast of Brazil, where it will supply Alumar. This is a joint venture alumina refining and aluminum smelting operation with BHP Billiton Ltd. (BHP) near Sao Luis, on the eastern coast of Brazil.

Alumar is expanding its alumina refining capacity to 3.5 millions tons a year and Alcoa’s annual share in the complex is planned to increase to 1.3 million tons of alumina, expected by the end of 2008.