Aluminium News

Social programs a success in Brazil

Members of the Quilombolas communities near Hydro’s operations in Brazil appreciate the company’s social programs that benefit local society.

Rio Tinto to invest US$2.7 billion to complete the modernisation of the Kitimat aluminium smelter in Canada

Rio Tinto has given the green light to an additional US$2.7 billion capital investment to modernise its aluminium smelter in Kitimat, British Columbia. This new investment will allow for completion of the US$3.3 billion project in 2014.

Review of Diamonds Business

BHP Billiton announced today that it is reviewing its diamonds business, comprising the Group’s interests in the EKATI Diamond Mine and the Chidliak exploration project in Canada.

Alcoa and the Government of Québec agree to New Development Program for Alcoa in Québec

Program will significantly improve Alcoa’s cost position; reduce greenhouse gas emissions

Rio Tinto approves further US$211 million study funding and US$1.117 billion early commitments in next stage of the Simandou iron ore mining project in Guinea

Rio Tinto is accelerating the development of the Simandou iron ore project in Guinea with the approval of a further US$211 million for continued studies and US$1.117 billion of funding for commitments for early works and procurement of long-lead items. This funding will allow the project to move forward towards first shipment of ore by mid-2015.

Alcoa and Ma’aden Complete Aluminum Project Financing Agreements

Alcoa (NYSE:AA) and The Saudi Arabian Mining Company, Ma’aden, today announced the signing of financing agreements by Ma’aden Bauxite and Alumina Company, the second phase of the US$10.8 billion Ma’aden Alcoa fully integrated aluminum joint venture.

Alcoa Third Quarter Revenue, Earnings Higher Than Year-Ago Quarter, Down Sequentially on Lower Prices and European Market Weakness

Highlights:

• Income from continuing operations of $172 million, or $0.15 per share, up 182 percent compared to third quarter 2010, down 47 percent from second quarter 2011 
• Revenue of $6.4 billion, up 21 percent over third quarter 2010, down 3 percent from second quarter 2011 
• Cash from operations of $489 million in the quarter, $1.1 billion year-to-date
• Free cash flow of $164 million in the quarter, $250 million year-to-date
• Debt-to-capital ratio of 33.7 percent and cash on hand of $1.3 billion

Powerhouse wants to add expertise to energy-positive building project

The Powerhouse alliance, which includes Hydro, is looking for companies with expertise to participate in the development of Norway’s first energy-positive commercial building. The building will be located at Brattørkaia in Trondheim.

Alcoa to Host Webcast of Third Quarter 2011 Results

Alcoa to Invest Approximately $300 Million in Davenport, Iowa Plant, Add 150 Jobs as Automotive Demand Rises for Light, Strong, and Recyclable Aluminum

Alcoa (NYSE:AA) today announced it will expand its Davenport, Iowa rolled products plant to meet rising demand from the automotive market. More and more automotive original equipment manufacturers (OEMs) are switching from steel to aluminum products from Alcoa as they seek to increase the fuel efficiency, safety, durability and performance of the cars they produce.

Alcoa Named to Carbon Performance and Carbon Disclosure Leadership Indexes

Alcoa (NYSE:AA) today announced that it has been recognized by the Carbon Disclosure Project (CDP) for reducing emissions and mitigating the risks of climate change as well as for its approach to the disclosure of climate change information. CDP featured Alcoa on both its Carbon Performance Leadership Index and the Carbon Disclosure Leadership Index.

UC RUSAL announces 2011 first half results. Topline growth outperforms the market

UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUAL), the world’s largest aluminium producer, announces its results for the six months ended 30 June 2011.

Alcoa Celebrates 15th Anniversary of Alumar Environmental Park in Brazil: A Living Laboratory for Ecological Education

Alcoa (NYSE:AA) is celebrating the 15th anniversary of the Alumar Environmental Park in São Luis, Brazil, located on the site of the Alumar complex, one of the world’s largest primary aluminum and alumina facilities.

BHP Billiton Completes Acquisition of Petrohawk Energy Corporation

BHP Billiton [ASX: BHP, LSE: BLT, NYSE: BHP, NYSE: BBL, JSE: BIL] announced today that it has completed its acquisition of Petrohawk Energy Corporation through a short-form merger under Delaware law of its wholly owned subsidiary with and into Petrohawk, with Petrohawk being the surviving corporation as a wholly owned subsidiary of BHP Billiton. The merger was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP Billiton to acquire all outstanding shares of common stock of Petrohawk.

Supporting the Illawarra Community

Following the announcement by BlueScope Steel on Monday regarding the restructure of its Australian operations including the Port Kembla Steelworks, BHP Billiton Illawarra Coal announced today an initiative to provide support to some of those people directly affected by the decision.

Daniel Cruise, Vice President Government and Public Affairs, Promoted to Alcoa’s Executive Council

Alcoa (NYSE:AA) announced today that as a result of the increasing impact of the Government and Public Affairs function on Alcoa’s business, Daniel Cruise will join Alcoa’s Executive Council, the Company’s senior leadership group that sets strategic direction, and report to Alcoa Chairman and CEO Klaus Kleinfeld.

Alcoa and Aluminum Play Major Role in New EPA/NHTSA Effort To Reduce GHG Emissions and Increase Fuel Efficiency

Alcoa (NYSE:AA) and the aluminum industry play a major role in the new effort to reduce GHG emissions and increase fuel efficiency for medium and heavy trucks and buses announced last week by the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration. The first-of-their-kind fuel efficiency and emission standards are projected to save businesses that own and operate commercial vehicles approximately $50 billion in fuel costs over the life of the program.

Century Aluminum Company Announces $60 Million Stock Repurchase Program

Century Aluminum Company (NASDAQ: CENX) today announced that its Board of Directors has approved a $60 million stock repurchase program. "We believe that the repurchase program is in the best interests of our shareholders," said Logan Kruger, Century’s President and CEO.

Ma’aden and Alcoa Mark Double Project Milestones

Senior executives from Ma’aden and Alcoa (NYSE:AA) today joined project teams at Ras Al Khair in Saudi Arabia to commemorate two major landmarks in the construction of their $10.8 billion integrated aluminum joint venture.

Fiat-to-Volkswagen Discounts Signal Lower Sales

Volkswagen AG (VOW), Fiat SpA (F) and General Motors Co. (GM) are offering cheap financing and cash rebates to woo hesitant European customers as car demand shows signs of deteriorating because of the region’s debt crisis.

Century Aluminum Reports Second Quarter 2011 Earnings

Century Aluminum Company (NASDAQ: CENX) today reported net income of $24.0 million ($0.24 per basic and diluted share) for the second quarter of 2011. Financial results were negatively impacted by a $7.7 million charge related to the contractual impact of the recent changes in the Company’s Board of Directors and the executive management team; a charge of $2.9 million related to an insurance receivable, reflecting the fact that the matter is now in litigation, despite the Company’s continuing view that it will ultimately receive such proceeds; a loss on forward contracts of $1.6 million, primarily related to the marking to market of aluminum put options; and a charge of $0.8 million related to the early retirement of debt. Changes to the Century of West Virginia retiree medical benefits program increased quarterly results by $8.9 million with an associated discrete tax benefit of $2.1 million.

Hydro investing in extrusion press in Brazil

Hydro is investing to add another extrusion press at its aluminium extrusion plant in Brazil.

UC RUSAL decides to restart operations at Kirkvine Plant

UC RUSAL announces its decision to restart the operations at the Windalco-Kirkvine Works Plant with effect from 1 July 2011. The restart of Windalco-Kirkvine Works Plant is subject to the approval by international lenders and further discussions of the Company with its partners on the project.

Aluminum to replace copper as a conductor in on-board power systems

TUM-BMW collaboration clears obstacles to lighter, cheaper alternative. Electric power and electronics are playing an ever-increasing role in all kinds of vehicles. Currently copper is the conductive material of choice. But in comparison to aluminum copper is heavy and expensive. In particular for fully electric vehicles the switch to the cheaper and lighter aluminum would be an interesting option. That is why the optimization of intricate power supply networks is now in the focus of engineering research. Scientists from the Technische Universitaet Muenchen (TUM), in collaboration with BMW engineers, have now found out what tricks make it possible to replace copper with aluminum.

Rio Expects Aluminum Demand to Double in 15–20 Years

Rio Tinto Plc expects demand for aluminum to double during the next 15 to 20 years.

National Aluminium Profit increased by 65 % in October-December 2010

National Aluminium Co., India’s second-biggest producer of aluminum, has increased net profit by 65 % in October-December 2010 because of manufacture and price growth.

Aluminium price may rise to USD 2700 in 2011 — RUSAL

The global elite is failing to find the “shared norms in the new reality” preached by the World Economic Forum as lopsided growth and income inequalities split the international economy. Delegates at the Swiss ski-resort of Davos identified rising food prices, North African unrest and competing remedies for an uneven global recovery as evidence of increased discord.

UC RUSAL resumes construction works at the BEMO site

UC RUSAL, the world’s largest aluminium producer, announces that the company has received credit funds from VEB for the construction of the first start-up complex of the Boguchansky aluminum smelter and that it has resumed works at the construction site.

Rio Tinto Alcan’s aluminium transportation returns to normal at Boyne Smelters Limited

Rio Tinto Alcan today announced the termination of the force majeure event which had affected some of its customers being supplied with aluminium from Boyne Smelters Limited near Gladstone and that transport operations have returned to normal.

RUSAL to participate in the sale of Emission Reduction Units under the Kyoto Protocol

UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer, announces the inclusion of the “Reduction of perfluorocarbon (PFC) emissions at the Krasnoyarsk aluminum smelter (KrAZ)” project in the list of approved projects carried out in accordance with Article 6 of the Kyoto Protocol to the UN Framework Convention on Climate Change.

Hydro plans to lower capital expenses for quarter

Norsk Hydro ASA said it plans to lower capital expenses in 2011 by 25 % to 5 billion kroner ($845,9 million) in comparison with 2010.

Flooding impacts supply of aluminium from Boyne Smelters Ltd

Rio Tinto Alcan today gave notice to its affected customers of a force majeure event impacting the supply of aluminium from Boyne Smelters Limited near Gladstone as a result of the severe flooding across Queensland.

Deutsche Bank: aluminum to rise above $3000/t in 2012

Deutsche Bank has been the first among the major banks to believe the price for aluminum in 2012 will be higher than 3000 USD. It recently increased its price forecasts for aluminum to $2650/t in 2011 and $3025/t in 2012.

Alcoa predicts a great demand for aluminum in 2011

Rising demand and prices for aluminum around the world were for Alcoa Inc. not only the reason of profit in 2010, but also a source of optimistic forecasts on 2011.