Bauxite

Norsk Hydro: Eivind Kallevik appointed CEO of Hydro

Retrieved on: 
Thursday, March 14, 2024
Norsk Hydro, Bauxite, Eivind, CFO, Renewable energy

Eivind Kallevik has been appointed President and CEO of Norwegian aluminium and renewable energy company Norsk Hydro ASA.

Key Points: 
  • Eivind Kallevik has been appointed President and CEO of Norwegian aluminium and renewable energy company Norsk Hydro ASA.
  • "I am pleased to announce that Eivind Kallevik has accepted the job as President and CEO of Hydro.
  • I am confident Eivind has what it takes to lead Hydro towards 2030 and beyond," says Dag Mejdell, chairperson of Hydro's Board of Directors.
  • Prior to this, Kallevik held several senior management positions in Hydro, including the Bauxite & Alumina business area and the downstream aluminium business.

Norsk Hydro: Changing the aluminium game - Strengthening position in challenging markets

Retrieved on: 
Wednesday, February 14, 2024
Energi, NOK, Volvo, Investment, Sale, COP28, MRN, PCS, Energy transition, EUR, Bauxite, KT, Partnership, FMC, Capital market, FSRU, Natural gas, PAX, PPA, LME, Climate change, Carbon, Conference, CO2, Recycling, Kilowatt-hour, Tomago, New South Wales, USD, Rationalization, Global warming potential, AGM, Policy, Annual, Wind, Renewable energy

All business areas, except Bauxite & Alumina, delivered returns above their cost of capital in challenging markets during 2023.

Key Points: 
  • All business areas, except Bauxite & Alumina, delivered returns above their cost of capital in challenging markets during 2023.
  • At the same time, lower trailer build rates in North America have started to negatively impact demand in the transport segment.
  • A weakening extrusion ingot market is further putting pressure on product premiums and several remelters are faced with negative margins, consequently.
  • The transactions enable capital reallocation into strategic growth areas, strengthening Hydro’s earnings resilience in a rapidly changing global landscape.

Hydro Capital Markets Day 2023: Pioneering the green aluminium transition, powered by renewable energy

Retrieved on: 
Wednesday, November 29, 2023
Copper, Atmosphere, Nordic, PCS, Carbon footprint, Policy, IPAM, Partnership, Biodiversity, Q2, Risk, Recycling, Mercedes-Benz, Acquisition, Wind, Mining, Hydroelectricity, Bauxite, NOK, Waste management, Education, Metal, Investment, Air pollution, Biofuel, Annual, Growth, Carbon, Steel, CO2, Paragominas, Polestar, Nature, Capital market, Renewable energy

Towards 2030, Hydro will step up growth in aluminium recycling and extrusions, and in its ambitions within renewable power generation.

Key Points: 
  • Towards 2030, Hydro will step up growth in aluminium recycling and extrusions, and in its ambitions within renewable power generation.
  • Amid current market challenges, strong demands for key materials like aluminium, steel, and copper are expected due to the green transition.
  • In the 2030 strategic direction, Hydro is stepping up growth investments in Extrusions and recycling to capitalize on the green transition opportunities.
  • Ambitions in renewable power generation are elevated to ensure affordable renewable energy in the aluminum value chain at attractive returns.

Norsk Hydro: Positioning for the long-term, navigating challenging markets

Retrieved on: 
Tuesday, October 24, 2023
Shanghai Metals Market, JV, Hydroelectricity, APM, EV, Bauxite, Government, Family, United Auto Workers, EBITDA, PAX, Injection, Carbon, Wind, Norwegian State Educational Loan Fund, Maintenance, UAW, EBIT, Social, Growth, Mercedes-Benz, Macquarie Group, Plant, Partnership, EUR, Share repurchase, CO2, LME, Recycling, USD, Investment, EU, NOK, Risk management, Renewable energy, Lithium, Financial services, Extrusion, Macquarie

Global demand has remained weak for residential building and construction, and industrial segments, while demand for automotive has been more stable.

Key Points: 
  • Global demand has remained weak for residential building and construction, and industrial segments, while demand for automotive has been more stable.
  • Within Hydro Extrusions and recycling, we are using our production flexibility and adaption abilities to maneuver in weaker markets,” says Aasheim.
  • Hydro’s improvement program has progressed significantly during the quarter and commercial ambitions are ahead of the target for 2023.
  • The 2024 Norwegian national budget proposal, revealed on October 6, surprised with significant changes to industrial and power development conditions.

Norsk Hydro: Well positioned in declining markets, low-carbon aluminium gaining ground

Retrieved on: 
Friday, July 21, 2023
Carbon, TRI, Shanghai Metals Market, Housing, APM, CBAM, Hydroelectricity, Acquisition, Investment, Curtailment (electricity), NOK, Hydro, Policy, USD, MRN, Green Deal, Climate, Growth, Bauxite, Safety, Pressure, Mercedes-Benz, PAX, Health, EQE, Letter, PPA, EQS, Glass, Partnership, ETS, LME, EBIT, Recycling, Nikolayev, EBITDA, European Green Deal, Glencore, CO2, Cryptocurrency, Renewable energy, Aluminium, Lumber, DFM Guidelines for Hot Metal Extrusion Process, EU, Nordic

Demand for primary aluminium is declining in the short-term, while Chinese supply is returning, leading to the global primary balance weakening in recent months.

Key Points: 
  • Demand for primary aluminium is declining in the short-term, while Chinese supply is returning, leading to the global primary balance weakening in recent months.
  • A stronger market position through our greener aluminium product offering separates us from our peers and makes us attractive for partnerships,” says Aasheim.
  • A key pillar within the Hydro 2025 strategy to strengthen the position in low-carbon aluminium is recycling.
  • Hydro is gaining further ground on low-carbon aluminium, and achievements have been made across the value chain to meet the increasing demand for greener products.

Norsk Hydro: Robust results, executing on strategy

Retrieved on: 
Friday, April 28, 2023
Lithium, Energi, Hydro, TRI, Shanghai Metals Market, Loss, Recycling, Trade union, EV, Bauxite, NHO, PAX, Strike, Annual, Health, Battery, Extrusion, Energy, LME, EBIT, Carbon, APM, USD, FLT, EVS, Share repurchase, Confederation of Vocational Unions, EBITDA, MRN, Acquisition, Investment, Risk, PCS, Glencore, CO2, Growth, Silicon, Transport, NOK, Safety, Renewable energy, Aluminium, Bank, Cryptocurrency, Video game, Arms industry, Nordic, Porsche, Industri Energi, European

“Hydro is delivering robust financial results and executing on our strategic objectives, despite volatile markets and weaker demand.

Key Points: 
  • “Hydro is delivering robust financial results and executing on our strategic objectives, despite volatile markets and weaker demand.
  • This 40 percent interest will be acquired by Hydro from Vale and immediately sold to Glencore on a back-to-back basis.
  • The transaction is an important step to deliver on Hydro’s strategy.
  • Hydro will continue to be long alumina, but now more balanced in relation to the demand from our aluminium smelter portfolio.

Norsk Hydro: Hydro and Glencore to become partners to further develop Alunorte

Retrieved on: 
Thursday, April 27, 2023
Bauxite, Metal, Citigroup, Part, Carbon, USD, Retirement, MRN, CBA, Latham & Watkins, Mining, Glencore, Rio Tinto, Aluminium, Bank, LNG

This 40 percent interest will be acquired by Hydro from Vale and immediately sold to Glencore on a back-to-back basis.

Key Points: 
  • This 40 percent interest will be acquired by Hydro from Vale and immediately sold to Glencore on a back-to-back basis.
  • Hydro invites to conference call today (Thursday, April 27) at 08:30 CEST (06:30 GMT) to provide further details on the transactions.
  • Alunorte remains a core strategic asset for Hydro and is a key source of low-carbon alumina supply to our primary aluminum smelters.
  • We look forward to becoming partners with Glencore, and their broad industrial experience within metals and mining, to further develop Alunorte,” says Aasheim.

Alcoa Corporation Reports First Quarter 2023 Results

Retrieved on: 
Wednesday, April 19, 2023
Engineering, Mining, Minerals, Manufacturing, Natural Resources, Other Manufacturing, Steel, Borrowing base, Maintenance, Portland aluminium smelter, SGA, NMA, Carbon, EDT, Public expenditure, Retirement, EBITDA, Risk, Natural gas, Security (finance), Bauxite, GEI, Renewable energy, Aluminium, Oil, Copper, Pharmaceutical industry, Rare-earth element, SAN, Aluminium oxide, Kwinana

Net loss attributable to Alcoa Corporation of $231 million, or $1.30 per share, improved sequentially.

Key Points: 
  • Net loss attributable to Alcoa Corporation of $231 million, or $1.30 per share, improved sequentially.
  • In the second quarter of 2023, Alcoa expects to record a non-cash settlement charge of approximately $18 million ($13 million after-tax, or $0.07 per share) related to this annuity transaction.
  • Alcoa recently received several recognitions during the first quarter of 2023.
  • Alcoa will hold its quarterly conference call at 5:00 p.m. Eastern Daylight Time (EDT) on Wednesday, April 19, 2023, to present first quarter 2023 financial results and discuss the business, developments, and market conditions.

EQS-News: Metalcorp Group: first commercial shipment of 160,000 tonnes of bauxite in Guinea successfully completed

Retrieved on: 
Thursday, February 23, 2023
Marketing, Mineral, SBG, Mining, Metal, Aluminium, Bauxite

The bauxite is produced by Metalcorp’s subsidiary Société des Bauxites de Guinée (SBG) at its own mine located in Garafiri in Guinea and exported with infrastructure designed for this purpose.

Key Points: 
  • The bauxite is produced by Metalcorp’s subsidiary Société des Bauxites de Guinée (SBG) at its own mine located in Garafiri in Guinea and exported with infrastructure designed for this purpose.
  • Carlos Leite, CEO of Metalcorp Group S.A.: “We thank the authorities in Guinea, the local communities and the Guinean institutions for their support.
  • Likewise, our thanks go to our employees and stakeholders whose outstanding performance brought this mine into production and export.
  • The follow-up shipment is in process and we look forward to continuing our positive momentum into the future for the SBG project.”

Norsk Hydro: 2022 record results, Q4 down on lower prices

Retrieved on: 
Tuesday, February 14, 2023
CRU, CFO, GDP, Recycling, Mergers & Acquisitions, Carbon accounting, Health, European Commission, PCS, Share repurchase, LME, Lifting, Investment, Safety, Zephyr, Wind, Civil service commission, Bauxite, CO2, EBITDA, Norwegian State Educational Loan Fund, Acquisition, Mercedes-Benz, Annual, Sale, Industrialisation, Sunnfjord, USD, Capital market, Partnership, Growth, TRI, Mergers and acquisitions, NOK, PAX, Hydro Husnes, Video game, Cryptocurrency, Renewable energy, Aluminium, Reinsurance, Bank, Extrusion, EU, Energy

Strong results and aluminium margins, lower upstream prices and higher costs

Key Points: 
  • Strong results and aluminium margins, lower upstream prices and higher costs
    Hydro experienced record results for the full year 2022, with an Adjusted EBITDA of NOK 39.7 billion.
  • “Having concluded a strong fourth quarter of 2022, I am very satisfied to see Hydro completing a year of record results both financially and safety wise.
  • Nordic power prices are on average higher in the fourth quarter compared to the same period last year, but declined significantly compared to the third quarter of 2022.
  • Significant price area differences in the Nordic region have continued, however they were considerably lower compared to the third quarter.