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Alcoa Announces Milestone for Alumar Smelter Restart
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Rhea-AI Summary
Alcoa Corporation has commenced the restart of aluminum production at its Alumar smelter in São Luís, Brazil, energizing the first 20 of its 710 smelting pots. The smelter is expected to reach its full capacity of 447,000 metric tons by the end of 2022, with Alcoa's share being 268,000 metric tons. This initiative aims to meet the increasing global demand for sustainably-sourced aluminum and is expected to benefit various stakeholders in Brazil's Maranhão state.
Positive
Restarting the Alumar smelter enhances aluminum production capacity, targeting 447,000 metric tons annually.
First 20 smelting pots energized, indicating progress in the restart process.
Expected positive impact on stakeholders in Brazil's Maranhão state.
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None.
PITTSBURGH--(BUSINESS WIRE)--
Alcoa Corporation (NYSE: AA) today announced that the Alumar smelter in São Luís, Brazil has now energized its first 20 smelting pots as part of the ongoing restart of aluminum capacity at the location.
Alumar’s smelter is owned by Alcoa and South32 Limited. It has three smelting lines with 710 pots. More capacity will progressively come online, with the full annual capacity of 447,000 metric tons expected to be operational by the end of 2022.
“The restart of Alumar will build on our competitive strengths in the global and local marketplace and expand our ability to supply growing demand for sustainably-sourced aluminum,” said John Slaven, Executive Vice President and Chief Operating Officer at Alcoa. “We’re proud of the positive impact the restart will bring to our customers, investors, employees, and community stakeholders in Brazil’s Maranhão state.”
Alcoa Alumínio, a wholly owned subsidiary of Alcoa Corporation, owns 60 percent of the smelting and casting capacity; South32 holds the remaining 40 percent.
About Alcoa Corporation
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.
Forward-Looking Statements
This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning. All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corporation’s filings with the Securities and Exchange Commission. Alcoa Corporation disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
What is the significance of Alcoa's restart of the Alumar smelter?
Alcoa's restart of the Alumar smelter is significant as it is set to increase aluminum production by a targeted annual capacity of 447,000 metric tons, enhancing the company's market position.
How many smelting pots are at the Alumar smelter?
The Alumar smelter has a total of 710 smelting pots.
What is Alcoa's share of the Alumar smelter's capacity?
Alcoa's share of the Alumar smelter's capacity is 268,000 metric tons annually.
When is the Alumar smelter expected to reach full operational capacity?
The Alumar smelter is expected to reach its full operational capacity by the end of 2022.
What are the benefits of restarting the Alumar smelter for stakeholders?
The restart of the Alumar smelter is expected to positively impact customers, investors, employees, and community stakeholders in Maranhão, Brazil.
