Australia’s South32 is expecting elevated alumina prices in the second half of the year due to supply-side risks, including heavy seasonal rains in Guinea that are affecting shipments, CEO Graham Kerr announced on Thursday. In addition to the alumina market outlook, Kerr noted that South32 anticipates a recovery in aluminium prices, driven by a weakening U.S. dollar and renewed buying...
Alumina news
Global Alumina Production Edges Up in July Amid Mixed Regional Output
Global alumina production saw a slight increase of 0.9% in July, rising to 12.16 million tons from 12.05 million tons in June, according to the latest data from the International Aluminium Institute. However, this figure represents a marginal 0.1% decrease compared to the same period last year, when production stood at 12.17 million tons. Despite the overall monthly rise, the...
Mykolaiv Alumina Plant Nationalized as Deripaska Loses Last Major Ukrainian Asset
The High Anti-Corruption Court of Ukraine has seized 100% of the corporate rights of Mykolaiv Alumina Plant (MGZ), previously controlled by Russian oligarch Oleg Deripaska, along with more than 150 buildings and 200 vehicles associated with the enterprise. The State Property Fund is now registering the property, setting the stage for a large-scale privatization process. Mykolaiv Alumina Plant, one of...
ANTAM Posts Strong Financial Results Amid Global Challenges
Aneka Tambang, part of Indonesia’s MIND ID, has reported solid financial performance for the first half of 2024. Despite facing global economic volatility and commodity price fluctuations, the company maintained robust production and sales levels. For the period from January to June 2024, ANTAM achieved a net profit of Rp1.51 trillion (approximately $18.12 million). This performance was underpinned by stable...
Norsk Hydro Reports 18% Drop in Q2 Profit Amid Lower Volumes and Margins
Norwegian aluminium producer Norsk Hydro reported an 18% decline in second-quarter core profit to 5.84 billion Norwegian crowns ($533.09 million), impacted by lower volumes and margins despite higher alumina prices. The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter ended June 30 fell short of the average analyst forecast of 6.15 billion crowns. Norsk Hydro’s bauxite...
South32 to Record Significant Impairments Amid Regulatory Challenges
South32, an Australian mining and metals company, announced that it will record pre-tax impairment expenses of approximately $554 million for Worsley Alumina and $264 million for Cerro Matoso in its fiscal year 2024 financial results. The company’s fourth-quarter production figures showed stability in alumina production, with 1.249 million tonnes, unchanged from the previous year. However, aluminium production slightly decreased to...
Rio Tinto and Alteo Collaborate on Environmental Remediation at Gardanne and Mange-Garri Sites
In a move addressing longstanding concerns of local residents and environmental groups, Rio Tinto and Alteo have entered into an agreement to manage the remediation of the Gardanne industrial site and the Mange-Garri bauxite residue storage site in France. This initiative targets the notorious red sludge, or bauxaline, that has been stored on the Mange-Garri plateau near Bouc-Bel-Air for decades....
Alcoa Sees Improved Earnings and Revenue in Q2 Amid Market Upturn
Alcoa has announced its financial expectations for the second quarter of 2024, projecting an adjusted EBITDA of $310-330 million and revenue between $2.85-2.925 billion. This is a significant increase from the $132 million EBITDA and $2.599 billion revenue reported in the first quarter of 2024. The company anticipates an adjusted net profit of $15-35 million for the second quarter, translating...
Queensland Set to Lead in High-Purity Alumina Production with New Gladstone Refinery
Queensland is solidifying its position as a top producer of bauxite and aluminium products with the imminent construction of the world’s largest high-purity alumina (HPA) refinery in Gladstone. Alpha HPA’s managing director, Rimas Kairaitis, announced that construction on the 10-hectare facility at Yarwun will commence by the end of September. The second stage of this project will enable full-scale production...
Ukraine’s Mykolaiv Alumina Plant Requires Stabilization, Says State Property Fund Head
The Mykolaiv Alumina Plant, previously managed by Russian Aluminum (Rusal) and now under the State Property Fund (SPF) of Ukraine, needs stabilization, according to Vitaliy Koval, Head of the SPF, after visiting the site. “Our main goal is to stabilize the situation in and around the enterprise. I am personally convinced that the plant is in good condition, the technological...