Alcan pledges $1B in 2011 to revisit long-standing expansion projects
Dec 14, 2010 | 02:34 PM
Rio Tinto Alcan has pledged more than $1 billion in funding to press ahead with longstanding green- and brownfield projects in Canada, including the first phase of its new smelter at Saguenay-Lac-Saint-Jean in Quebec and work on the modernization of its Kitimat smelter in British Columbia.
Both projects in Canada have been in the pipeline for several years but were delayed due to the global economic crisis.
An improvement in the aluminum market has justified the investment announced Tuesday, a company spokesman said.
The first phase of the Saguenay plant, which will replace the existing 170,000-tonne Arvida smelter, will cost $758 million and will include 38 posts with annual capacity of 60,000 tonnes of aluminum. Production is expected to start in 2013.
The smelter will use the latest version of the company's AP60 technology rather than the planned AP50.
The initial step will also include infrastructure required for two subsequent phases, which would bring output to 460,000 tonnes per year. The smelter will be powered by hydroelectricity.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.