- South32 (S32) is set to restart the Alumar aluminium smelter (Brazil Aluminium) with its joint venture partner, Alcoa Corporation
- First production is expected in the June 2022 quarter with the full capacity from its three potlines of 447,000 tonnes per annum to be achieved in the March 2023 quarter
- Once at full production, South32 expects its aluminium production to increase by 16 per cent to 1.26 million tonnes per annum
- Further, South32 has announced its 40 per cent share of Brazil Aluminium will be fully powered by cost-efficient renewable power
- South32 is down a slight 0.50 on the market with shares trading at $4.0
South32 (S32) is set to restart the Alumar aluminium smelter (Brazil Aluminium) with its joint venture partner, Alcoa Corporation.
First production is expected in the June 2022 quarter with the full capacity from its three potlines of 447,000 tonnes per annum to be achieved in the March 2023 quarter.
Once at full production, South32 expects its aluminium production to increase by 16 per cent to 1.26 million tonnes per annum.
Brazil Aluminium has been on care and maintenance since 2015 and South32 has stated it expects to invest around US$70 million (A$97 million) across FY22 and FY23 to support the restart.
Further, South32 has announced its 40 per cent share of Brazil Aluminium will be fully powered by cost-efficient renewable power.
CEO Grahan Kerr is excited to begin the restart of operation.
“We are excited to participate in the restart of the Alumar smelter using 100 per cent renewable power,” Mr Kerr commented.
“By investing along our existing alumina-aluminium value chain with the smelter’s restart and the expected increase to our shareholding in Mozal Aluminium, we are further integrating our business and meaningfully increasing our share of metal produced utilising green energy.
“With this decision we continue to make substantial progress in reshaping our portfolio, increasing our exposure to the base metals required for the critical transition to a low carbon future.”
South 32 was down a slight 0.50 per cent on the market with shares trading at $4.00 at 1:38 pm AEDT.