Copying and distributing are prohibited without permission of the publisher
Alcoa, Ma'aden produce first Saudi hot metal
December 14, 2012 - 02:00 GMT
Alcoa and its Saudi Arabia-based joint venture partner Ma'aden have produced the first hot metal at their aluminium complex on the east coast of the country, a project that allows the Pittsburgh-based company to significantly reduce production costs.
"The smelter gives us the opportunity to push ahead with its
strategy for the upstream business of coming down the cost
curve," Alcoa chairman and ceo Klaus Kleinfeld said Wednesday
in an interview from the complex in Ras Al Khair. "This is the
lowest-cost smelter on the planet; it gives us a good bump-up
in our competitiveness." The Ma’aden project
contributes a 2-percentage point reduction on the refining and
smelting cost curves for Alcoa, which plans to move down the
cost curve by 3-6% points by the end of 2013 across its
smelting facilities. Alcoa has a 25.1% stake in the...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to a premium subscription and benefit from more than 17 years of intelligence plus access to MB Company Data.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.