Noranda’s loss narrows, but power rate problems persist

Aug 12, 2014 | 02:14 PM | Nathan Laliberte

Tags  Noranda Aluminum Holding, earnings report, Missouri Public Service Commission, PSC, Layle Smith, Missouri Office of Public Counsel, Nathan Laliberte

NEW YORK — Noranda Aluminum Holding Corp.’s loss narrowed in the second quarter, although the company continues to be impacted by serious liquidity issues caused by its power contract.

During the past 24 months, historically low London Metal Exchange aluminum prices and an unfavorable power contract have eroded liquidity and negatively impacted Noranda’s balance sheet, president and chief executive officer Layle K. "Kip" Smith said during an Aug. 11 earnings conference call.....

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