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Aluminum December 12, 2023 08:40:46 PM

Alcoa to Discuss Financial Losses at the San Ciprian Complex

Paul Ploumis
ScrapMonster Author
The company has invested approximately $65 million so far this year so as to enable the restart.
Alcoa to Discuss Financial Losses at the San Ciprian Complex

SEATTLE (Scrap Monster): The representatives of the Spanish operating subsidiaries of Alcoa Corporation will have a meeting with the Spanish national and regional authorities this week to discuss financial losses at the San Ciprian smelter and refinery complex. This is part of planned series of meetings with key stakeholders.

Alcoa had reached an agreement with workers’ representatives in December 2021, following which the San Ciprian aluminum smelter was curtailed in January 2022. The alumina refinery has been operating at half its capacity since the third quarter of 2022 in order to mitigate losses. In February this year, Alcoa had agreed to restart the smelter operations in a phased manner starting January 2024. The company has invested approximately $65 million so far this year so as to enable the restart.

William Oplinger noted that the company has been working hard to abide by all the commitments, including making capital investments. However, the current situation is severely challenging. The company is committed to continue conversations with the government and workers’ representatives in a collaborative manner towards reaching a long-term solution, he added.

Alcoa is likely to seek all sorts of relief from the regional and national governments under the current economic conditions.

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