This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

First Alumina Sets Sail For Ma’aden Alcoa Joint Venture’s Fully Integrated Aluminum Manufacturing Complex In Saudi Arabia

Stocks in this article: AA

The first shipment of alumina, the feedstock for the Middle East’s first fully integrated aluminum manufacturing complex, at Ras Al Khair in the Eastern Province of the Kingdom of Saudi Arabia, has departed Alcoa’s (NYSE:AA) Bunbury Port facility in Western Australia.

The shipment of around 47,000 tonnes of alumina marks the latest milestone in the Ma’aden Alcoa aluminum joint venture’s establishment of the world’s largest and lowest-cost integrated aluminum complex. The $US10.8 billion project comprises a bauxite mine inland at Al-Baitha and, at Ras Al Khair on the east coast, an alumina refinery, aluminum smelter and rolling mill. The smelter and rolling mill will begin production in 2013 with the mine and refinery following in 2014.

Alcoa will supply the joint venture’s smelter with alumina until the dedicated local mine and refinery come on stream.

Ken Wisnoski, President of Alcoa Global Primary Products Growth, said that the supply of uniformly high quality alumina is essential for efficient operation of a smelter at any time, but even more so during the critical commissioning and early operational periods of a new smelter.

“The ability to source alumina that can be relied on for its consistent quality, shipment after shipment, is a critical advantage to us as we work to bring this world-class smelter on line in 2013,” said Wisnoski. "It’s reassuring for us that Alcoa’s Western Australian operations are solidly behind us in this joint venture. The international team deployed on this project includes many Australians and it is pleasing to see that contribution now augmented by the supply of world-class feedstock for the new smelter.”

Alan Cransberg, Managing Director Alcoa of Australia, said that these shipments are important for both Alcoa’s Australian operations as well as for Alcoa overall.

”We’re helping build a stronger, lower cost Alcoa. Australian mining and refining operators are regarded as being amongst the best in the world. Working collaboratively with their Saudi Arabian counterparts will expand their experience and capabilities even further. What they learn will have a direct benefit to Alcoa operations not only in Australia, but worldwide,” said Cransberg.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs