Section 232 spurs Magnitude 7 to restart Missouri aluminium smelter

Magnitude 7 Metals has announced plans to “restart two potlines of operation at its three-potline, 263,000-tonne-per-year aluminium smelter” in the US state of Missouri, in response to President Donald Trump signing the 10% tariff on aluminium imports into law on Thursday March 8.

“This long-overdue remedy to level a playing field that has been tilted against America and American workers for many years required conviction and leadership from the president and his advisers,” chief executive officer Robert Prusak said in a statement on March 9.

The company is preparing to restart the first potline in the second quarter of this year, with the second line expected to restart in the third quarter.

“[Magnitude 7] is prepared to move quickly on additional projects, including potentially the restart of the third and final potline of primary production capacity, if and when market conditions allow,” Prusak said.

The smelter, located in New Madrid County, was purchased by ARG International from the now-defunct Noranda Aluminum Holding in September 2016 for $13.7 million. After the purchase, ARG established Magnitude 7 to operate the smelter, which has until now remained idled.

Kirk Maltais

kirk.maltais@fastmarkets.com

Published

Kirk Maltais

March 12, 2018

02:10 GMT