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Alcoa to Close Alumina Refinery, Bauxite Mines in Suriname
January 6, 2017
1 Min Read
Alcoa Corporation is permanently shuttering its alumina refinery and bauxite mines in Suriname. Image courtesy of Flickr user wkulicki
Aluminum producer Alcoa Corporation announced plans Tuesday to close the Suralco alumina refinery and its bauxite in Suriname and stated that the company is developing agreements with the Surinamese government to determine “Suralco’s remaining activities in the country and the future of the bauxite industry” in the country.
“We are working in partnership with the government of the Republic of Suriname to reach the best possible solution that would enable Suriname to maintain its bauxite industry. Dialogue is ongoing and progress is being made,” Alcoa’s chief executive officer Roy Harvey said in a statement. “As we enter 2017, we also continue to streamline and strengthen our portfolio to better focus on our businesses and growth opportunities ahead.”
Alcoa will continue operation of the Afobaka hydroelectric facility, pending completion of the agreements between the company and the republic’s government.
The company said an estimated $151 million in total cash costs will be incurred over five years in relation to the closures, with $24 million predicted to be spent for 2017.
An announcement in Sept. 2015 said that the company planned to stop operations at the Suralco refinery because of a low supply of bauxite ore, Reuters reported, noting that the plant has a refining capacity of 2.2 million MT per year.
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