Jan 3 Alcoa Corp said it would
permanently close its Suralco alumina refinery and bauxite mines
in Suriname, more than a year after stopping production at the
The company said on Tuesday it would record $90 million in
charges in the fourth quarter of 2016 related to the
Alcoa stopped production at the Suralco refinery, which has
an annual refining capacity of 2.2 million metric tons, in 2015
due to dwindling bauxite ore supply. (reut.rs/2hPHOJH)
Suralco is part of the Alcoa World Alumina and Chemicals
(AWAC) group of companies owned 60 percent by Alcoa and 40
percent by Alumina Limited.
The aluminum producer said it was in talks with the Suriname
government regarding Suralco's remaining activities in the
Alcoa also said it would record a $31 million non-cash,
after-tax charge associated with its interests in a Western
Australia gas field.
The total impact of the charges is estimated to be 66 cents
per share, the company said.
Alcoa said a power outage at the Portland Aluminum smelter
in Victoria, Australia is not expected to have a significant
unfavorable impact on fourth-quarter results.
The smelter was hit when a power interconnector between the
states of Victoria and South Australia went down on Dec. 1,
knocking out power to both of the plant's potlines for about
(Reporting by Vishaka George in Bengaluru; Editing by Sriraj