News

Arconic separation

Arconic announced in its Fourth Quarter 2018 Highlights that the portfolio will be separated into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses.  In addition, the Company will also explore the potential sale of businesses that do not best fit into Engineered Products & Forgings or Global Rolled Products. The Company also intends to execute its previously authorised $500 million share repurchase program in the first half of 2019. The Board has also authorised an additional $500 million of share repurchases,...

Decade-low demand

According to an announcement by Alcoa, global demand for aluminium is likely to grow this year at its slowest pace since the global recession of 2009. Roy Harvey, Alcoa’s chief executive, said in a presentation to analysts that the company expected worldwide demand to grow by 3-4 per cent this year, which would be the slowest rate since the world market shrank during the downturn that followed the great financial crisis.  Mr Harvey pledged to respond “with urgency to these dynamic conditions” in the coming year.  He was speaking as Alcoa reported...

Engineers move in for latest milestone in Fort William wheels factory project

Plans to make Fort William a future hub of Britain’s automotive industry reached another milestone this week as ground engineers moved onto the site earmarked for Liberty’s flagship alloy wheels factory. The technical team moved in with their rigs and excavators for six weeks of in-depth ground investigations which will provide vital information for the design of foundations for the planned plant that is intended to manufacture wheels for at least a fifth of all UK-made cars from 2022 onwards. The innovative £120m plant, which will take its liquid metal directly...

$80M billet plant planned

Aluminium manufacturer Matalco has announced plans to build a new $80 million plant in central Wisconsin for the production of aluminium billet. The company, which currently operates plants in Indiana, Ohio, and Ontario, Canada, said the proposed site in Wisconsin Rapids offered convenient access to its customers as well as a strong local labor force and quality of life, the Wisconsin Rapids Tribune reports. Matalco executives also credited a package of state and local incentives for helping to bring the project to the region; the local incentives, the paper noted, must still be...

Australian Bauxite Limited commences mining operations at Bald Hill Bauxite Project

The company has worked with the customer for the four months to achieve the optimum product specifications. Australian Bauxite has awarded the contract for mining, processing and blending to Hazell Bros contractors. It has also commenced contract negotiations for transporting the product to the Bell Bay port. “ABx has long-standing relationships with experienced contractors that are well known for meeting the strict tonnage-specification targets and complying with community and landholder requirements.” “ABx has contracted with QUBE Logistics at Bell Bay for the...

EGA concludes a $6.5bn corporate debt transaction

Emirates Global Aluminium has announced the successful completion of a $6.5 billion term loan facility with a group of leading global and regional banks. The refinancing of EGA’s corporate debt optimises the aluminium giant’s capital structure by reducing the cost of debt, creating more flexibility for repayment, and aggregating debt at the EGA level. The term loan facility amends, extends and upsizes EGA’s existing $4.9 billion term loan facility agreed in December 2015. The proceeds from the increase in facility size have been used to fully repay a $1.8 billion...

Aluminium production at Eurasian Resources Group hits a record high in 2018

In 2018, Kazakhstan Aluminium Smelter, an enterprise of Eurasian Resources Group (ERG), boosted aluminium production by 1.4% year on year to 258.4kt (254.9kt in 2017), reaching an all-time high. The increase in output was due to higher productivity of existing equipment, mainly as a result of an increase in current at high amperage electrolytic cells. Kazakhstan Aluminium Smelter is the country's only producer of high-grade primary aluminium, which is traded on the London Metal Exchange. Over 90% of its output is exported, including to Russia, Belarus, Uzbekistan, Southern...

Chalco: Shandong closure

According to reports, Aluminum Corp of China , known as Chalco, said late on Wednesday it had stopped production at an aluminium smelting plant in eastern China’s Shandong province, citing high electricity costs. In a statement to the Shanghai and Hong Kong stock exchanges, Chalco said it was implementing “flexible production” on all 200,000 tonnes per year of capacity at its Shandong Huayu facility due to “high electricity prices, regional environmental protection policies, market environment and other factors.”

GLAFRI re-elects President

Göksal Güngör has been re-elected as President of the Global Aluminium Foil Roller Initiative (GLAFRI) for a second term. Mr Güngor also serves as General Manager of Assan Alüminyum in Turkey and, before his election in 2018, had served on the board of the organisation as a Vice-President. At the same time Olaf Müller of Hydro (Europe), Patrick Lawlor of Gränges (USA) and Simon Chan of Xiashun (China) were all confirmed in their positions as vice presidents by the General Assembly and will continue to serve on the GLAFRI Board. “I am...