Market Selection

Liu Zhongtian – A Magnet for Controversy

Liu Zhongtian – A Magnet for Controversy

The Chinese aluminium magnate Liu Zhongtian has been busy over the past several months. His latest move, namely his firm’s purchase of US firm Aleris, came as a shock to many in the market for a variety of reasons. Zhongwang USA LLC,...

Events

Balco Returns to Full Production After Two Years

Bharat Aluminium Company Limited (BALCO) is now running at full speed, according to remarks made by the firm’s CEO to an Indian newspaper. Balco is planning to reach a yearly output of almost six million metric tons of aluminium at its smelter in Chhattisgarh, central India. “All units – the smelter, power project, sheet rolling […]

Activists Objecting to Opening Odisha Bauxite Reserve to Vedanta

The Indian state of Odisha is facing opposition from environmental activists in the wake of their decision to open up bauxite reserves at Kodingamali to London-based Indian miner Vedanta Resources plc. “The issues that we fought for at Niyamgiri are also relevant for Kodingamali, a forested hill range saddled by tribal inhabitations,” said Prafulla Samantray, […]

Aleris Purchased by Zhongwang for US$2.33 bln

Cleveland’s Aleris Corporation announced today that it has been purchased by Zhongwang USA LLC, a firm owned by China Zhongwang’s Liu Zhongtian. According to the press release, the purchase price was US$2.33 billion. Aleris indicated that the purchase price was made up of US$1.1 billion in cash, with the balance being debt. Zhongwang, which is […]

Gränges Completes Acquisition of Noranda’s North American Business

Swedish aluminium firm Gränges AB announced last week that their acquisition of Noranda’s North American business had been completed. Gränges acquired the firm during bankruptcy proceedings held at the U.S. Bankruptcy Court in St. Louis, Missouri. The bankruptcy court approved the acquisition earlier this month, paving the way for Gränges to acquire Noranda’s US$330 million […]

South32 Not Planning to Restart Idled Aluminium Capacity Before 2018

Australian metals miner South32 indicated on Thursday that it does not expect to reopen idled capacity at its aluminium and manganese operations in southern Africa in the course of the next two years. The firm idled the capacity in question due to a combination of depressed prices and an unreliable power supply in the region. […]