Upstream Weekly Recap: Metro Mining falls short of 2024 bauxite shipment target; Vedanta secures second place in S&P Global (CSA)
This week the upstream sector of the global aluminium industry witnessed many significant events. News of new highs, marginal misses, financial results, etc, have kept the industry on its toes. To begin with, Metro Mining has reached a new annual milestone, shipping 5.7 million tonnes of wet bauxite in 2024. This reflected a 24 per cent increase in yearly shipments, driven by consistent month-on-month growth since August. Vedanta Aluminium has proudly secured second place in the esteemed S&P Global Corporate Sustainability Assessment (CSA) for the global aluminium industry. Aluminium Bahrain B.S.C. (Alba) has once again set a new record for aluminium production in 2024. On Thursday, January 9, the company achieved 1,622,261 tonnes of net finished production for the year.
Metro Mining has reached a new annual record with 5.7 million tonnes of wet bauxite shipped. Driven by consistent month-on-month growth since August 2024, this marks a 24% increase in yearly shipments. However, despite this progress, the Australian mining company did not meet its annual target of 6 million tonnes.
Vedanta Aluminium has proudly secured second place in the renowned S&P Global Corporate Sustainability Assessment (CSA) for the global aluminium industry. Achieving an impressive overall score of 77, the company has showcased its excellence in environmental, social, and governance (ESG) practices, reinforcing its position as a leader in global ESG initiatives.
To know more: https://www.alcircle.com/news/vedanta-among-top-achievers-on-global-platform-for-sustainability-leadership-112972
Aluminium Bahrain B.S.C. (Alba) has once again exceeded expectations, setting a new record for aluminium production in 2024. On Thursday, January 9, the company announced it achieved 1,622,261 tonnes of net finished production. From 2021 to 2023, Alba produced 1,561,222 tonnes, 1,596,000 tonnes, and 1,620,665 tonnes annually, demonstrating a steady increase year on year.
To know more: https://www.alcircle.com/news/alba-celebrates-a-new-high-of-aluminium-production-2024-113004
Leaders of Dak Nong province have reported that in 2024, they participated in numerous meetings with the Prime Minister and the Government to address and resolve challenges related to bauxite planning. Their aim was to overcome these obstacles and foster economic and social development in the region.
History is repeating itself once again! Following its loss of iron segment traders, Glencore Plc is now on the brink of losing its top aluminium traders to emerging competitors such as Vitol Group and Mercuria Energy Group Ltd. This development signals that the return of energy firms to the metals sector is sparking a talent battle within the industry.
Dr Mohamed Irfaan Ali, President of Guyana, proudly highlighted the significant improvement in bauxite production during his tenure in a statement on Sunday. He reflected on the challenging period before his administration, when both the bauxite and forestry sectors were severely impacted by the APNU+AFC government's poor management.
To know more: https://www.alcircle.com/news/guyana-eyes-bright-bauxite-future-after-years-of-struggle-says-president-ali-112974
Hydro's Alunorte alumina refinery in Brazil has recently commenced operation of two new electric boilers, which generate steam using renewable energy instead of coal. This initiative is expected to reduce carbon dioxide emissions by up to 550,000 tonnes annually.
Brimstone, a U.S.-based industrial innovator, has made a groundbreaking advancement by producing smelter-grade alumina through its highly decarbonised cement manufacturing process. This milestone represents a significant moment for the U.S. industry, with broad implications for national security, economic growth, and the strengthening of domestic supply chains.
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter at a single site, hosted a special event on January 7, 2025, to celebrate 15 national employees who received the ‘Inspirational Employee of the Year’ Award for 2024. Notably, seven of the awardees were women, highlighting Alba’s dedication to gender diversity and inclusion.
To know more: https://www.alcircle.com/press-release/alba-recognises-15-national-employees-112984
Kaiser Aluminum Corporation has announced the retirement of Jack A. Hockema as chairman of the board, with Chief Executive Officer Keith Harvey appointed as his successor. In an official statement released on January 6, the company clarified that Hockema's retirement was not the result of any disagreements or issues related to operations or policies. His retirement took effect on January 1, 2025.
To know more: https://www.alcircle.com/news/leadership-evolution-at-kaiser-aluminum-jack-hockema-retires-and-the-board-reshuffles-112978
Brijendra Pratap Singh officially took on his role as Chairman-cum-Managing Director (CMD) of National Aluminium Company (NALCO) at the company’s corporate office in Bhubaneswar on Wednesday, January 8, 2025. He was appointed to this esteemed position by the Public Enterprise Selection Board (PESB) in September 2024, a high-level body established by the Government of India.
To know more: https://www.alcircle.com/news/update-brijendra-pratap-singh-takes-over-as-nalcos-new-cmd-112989
Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside of oil and gas, has announced the hiring of 113 UAE national women in 2024. This figure represents more than half of the 220 Emiratis employed by EGA during the year.
To know more: https://www.alcircle.com/news/women-brought-to-limelight-ega-has-over-50-female-recruitment-in-2024-112996
A key partnership agreement was signed on Friday, January 10, between National Aluminium Products Company (NAPCO) and Oman Aluminium Cast Company at Knowledge Oasis Muscat. This collaboration aims to support Madayn's key objective of boosting the market for local resources and strengthening indigenous industries in the Sultanate of Oman.
To know more: https://www.alcircle.com/news/napco-and-oman-aluminium-commit-to-strengthening-oman-s-indigenous-aluminium-industry-113006
Between January and September 2024, Nigeria exported aluminium alloy valued at N682 billion (441.45 million USD), according to an analysis of the Foreign Trade Statistics report from the National Bureau of Statistics. Classified as unwrought aluminium alloys, the exports included ingots, blocks, billets, and slabs.
Shares of National Aluminium Company Limited (NALCO) declined as the Nifty Metal index concluded the first week of 2025 on January 3. The Metal index showed limited movement, reaching a peak gain of just over 1 percent during the day before closing flat.
Shares of National Aluminium Company Limited (NALCO) dropped as the Nifty Metal index concluded the first week of 2025 on January 3. The Metal index remained largely steady, peaking at a gain of just over 1 percent before closing flat.
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