Alumina Weekly Recap: Rio Tinto assures to detach all bonds with Russian firms, QAL agreement under scanner; Hydro puts a new electric boiler at Alunorte alumina refinery
The week had been a quite eventful one, owing to the ongoing Russia-Ukraine conflict. As a knock-on effect from the war, a lot of changes had been taking place in the alumina industry. To begin with, Irish government has been petitioned to prohibit all Russia ships from entering the Irish territorial waters. Apart from this, Rio Tinto, the world's second-largest metals and mining firm, has begun a critical evaluation of its partnership agreement with Rusal, the Russian aluminium behemoth, for a Queensland venture, as it seeks to break any economic ties with Russia following its invasion of Ukraine. Also, the alumina output in China for February 2022 stood at 5.47 million tonnes, reflecting a downfall of 15.85% month-on-month.
The Ireland government has been petitioned to disallow all Russian ships to enter Irish territorial waters following a Russian cargo ship rejected its strive to collect a bulk load of alumina produced at the Rusal owned Aughinish Alumina refinery near Askeaton on 2nd February 2022. The Russian aluminium giant, Rusal operated Aughinish Alumina refinery is the largest alumina producer in Europe and employs more than 450 staff. The Irish independent politician further added by commenting that it would be highly recommended for such a move to be synchronized throughout the European Union. However, Ireland could act solitaire if needed to originate a progression across the EU.
On Monday, March 7, Glencore, a multinational commodity trading and mining company has decided to supply alumina to Aluminium Dunkerque, in return for which the former will be selling a portion of its aluminium output to the latter. This decision has been taken in regards to the Russia-Ukraine conflict, which has resulted in shipment disruption of alumina. Following a debt default by a portion of former owner GFG Alliance, private equity company American Industrial Partners (AIP) purchased the Dunkirk smelter last year.
To know more: https://www.alcircle.com/news/glencore-to-provide-alumina-to-aluminium-dunkerque-in-return-of-aluminium-76794
The world's second-largest metals and mining company, Rio Tinto, has initiated a crucial review of its partnership agreement with Rusal, the Russian aluminium giant for Queensland venture as it looks to cut off all business cords with Russia due to its invasion in Ukraine. As per industry source, the partnership agreement between Rio Tinto and Rusal has been laid down under immediate scanner on 10th March. The Anglo-Australian multinational, Rio Tinto was anticipating countering challenges in unfurling the deal without sanctions against Rusal or the minority partner’s consent, as added by our sources.
The Russian billionaire industrialist and oligarch Oleg Deripaska, the founder of Russian aluminium giant Rusal and his company, which owns the largest alumina refinery of Europe, Auginish Alumina in Limerick has been sanctioned by the UK government. The most technologically advanced and energy-efficient facility in the world of an alumina refinery, Auginish Alumina located near Foynes on the Shannon Estuary, employs 450 people at the refinery including a port.
To know more: https://www.alcircle.com/news/rusal-founder-oligarch-oleg-deripaska-named-on-uk-sanctions-list-77819
According to the Shanghai Metals Market, alumina production in China during February 2022 (28 calendar days) stood at 5.47 million tonnes versus 6.5 million tonnes in January (31 calendar days). That reflected a downfall of 15.85 per cent month-on-month. The output of metallurgical-grade alumina stood at 5.27 million tonnes in February compared to 6.28 million tonnes a month ago. Impact on the roasting capacity of alumina refineries in Shandong due to heating season policy and strict environmental protection was one of the primary reasons for the decline in alumina output during February.
On Tuesday, March 8, Altech Chemicals Limited, a speciality aluminium technology and production company stated that they have started working on its proposed US$144 million listed green bond offering. For this, they have joined hands with UK-based structuring agent Bedford Row Capital Plc and Australian business Bluemount Capital. The main aim of this collaboration is to support the development of its much anticipated high purity alumina (HPA) processing plant in Malaysia.
To know more: https://www.alcircle.com/news/altech-chemicals-joins-hand-with-bedford-row-capital-plc-for-its-hpa-plant-funding-77797
As part of the commitment to become carbon neutral by 2050, Hydro has reportedly brought in a change in the use of energy by inaugurating the operation of a new electric boiler, equipped with more modern technology and greater capacity, at its Alunorte alumina refinery. The boiler will be able to cut carbon emissions by 100,000 tonnes per year, with steam generation capacity of about 95,000 tonnes per hour, consuming 60 megawatts.
To know more: https://www.alcircle.com/news/hydro-puts-a-new-electric-boiler-into-operation-at-alunorte-alumina-refinery-77817
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