News

New US rolling mill

Braidy Industries Inc. to spend $1.3 billion to build the highest quality, lowest cost auto body sheet and aerospace plate aluminium rolling mill in the United States. The Braidy rolling mill seeks to become the nation’s low cost producer of high quality auto body sheet aluminium, plate and ultra-high strength alloys for the Aerospace industry. The mill will open with capacity of 370,000 tons per annum, producing series 5000, 6000, and 7000 aluminium sheet and plate products. Braidy is also exploring new scientific nano-crystaline technical advances capable of improving...

LME News

HKEX and LME announce new LME Chief Executive and Leadership Structure. Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, are pleased to announce the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority (FCA) of the UK.   Mr Chamberlain will remain on the LME Board and will continue as a member of HKEX’s Management Committee.   Mr Chamberlain has been the interim Chief Executive since January 2017 and was...

Mechatherm expands

Mechatherm Services continues to grow, adding both a Junior Service Engineer position and a Mechanical Engineer to the team. The UK service division now employs eight people in various roles and will work to add yet more to the team as the company expands into the Middle East with its first branch office.

Rusal: LMZ SKAD share

UC Rusal has acquired share of the foundry and mechanical production facility SKAD (SKAD), which is a producer of aluminium alloy car wheels, located in Krasnoyarsk.   Under the terms of the transaction, Rusal will own a stake in the authorised capital of LMZ SKAD LLC and its founder, Idris Zakriev, will remain as Chief Executive Officer of the production facility. SKAD produces alloy wheels for the Russian and overseas auto markets and, due to the growing consumer demand, SKAD’s management decided to raise funding by attracting a strategic partner for further...

Alba Line 6 update

Aluminium Bahrain B.S.C. (Alba) has secured commitments of c. US$ 700 million from Export Credit Agency (ECA) supported facilities to finance Line 6 Expansion Project.   The facilities are made-up of a dual tranche of c. US$ 310 million and c. EUR 315 million SERV Guaranteed Export Credit and c. EUR 50 million Euler Herms Guaranteed Export Credit.   The SERV-backed facility will fund the Company’s Power Station 5 (PS5) wherein General Electric (GE), EPC contractor, will provide three 9HA gas turbines, three steam turbines and three heat recovery steam generators...

Kleinfeld steps down

Arconic has announced that Klaus Kleinfeld, by mutual agreement with the Arconic Board of Directors, has stepped down as Chair and Chief Executive Officer of Arconic and has resigned as a Board member. David P. Hess, a current Board member, has been appointed as Interim CEO of Arconic and will remain on the Board. Mr. Hess has decades of experience in leading aerospace and industrial businesses. Patricia F. Russo, Arconic’s current Lead Director, has been appointed as Interim Chair of the Board. Ms. Russo has served on the Board since 2008 and has been serving as Lead...

EGA opens China office

The office in Shanghai of EGA’s wholly-owned Chinese subsidiary will source raw materials and other supplies in China. EGA has procured over $500 million of supplies from China over the past two years. The office will also deepen commercial ties by developing sales opportunities for bauxite from EGA’s under-development mine in the Republic of Guinea. Abdulla Kalban, EGA’s Managing Director and Chief Executive Officer, said: “China is already a substantial source of raw materials and supplies for EGA, and we expect the importance of China for our business to...