Rusal, the Russian aluminium producer with global reach, which has a major stake in Jamaica's mining sector, is reviewing its aluminium smelting operations and may idle a further 200,000 tons of capacity.
Rusal, which has cut capacity by 800,000 tonnes in the last two years, said its first quarter aluminium production came in at 900,000 tonnes. This was down two per cent on the previous quarter, but up two per cent on a year ago.
The Hong Kong-listed company said it expected production this year to be flat.
Rusal has announced that it is considering shuttering some production due to the weak price outlook and a desire to shift production to cleaner energy sources.
The company is looking to have almost all of its production using electricity from hydroelectric power plants.
Jamaica
Rusal is the dominant owner of bauxite and alumina capacity in Jamaica, but much of that capacity has been idle for the last six years, with only the Windalco Ewarton plant in operation during this period.
Late last year, the company announced it would resume operations at the Alpart plant at Nain in St. Elizabeth, starting with the mining and shipping of bauxite.
Rusal is the dominant owner of bauxite and alumina capacity in Jamaica, but much of that capacity has been idle for the last six years, with only the Windalco Ewarton plant in operation during this period.
Late last year, the company announced it would resume operations at the Alpart plant at Nain in St. Elizabeth, starting with the mining and shipping of bauxite.
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