Alcoa eyes Chinese aluminium smelter

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US aluminium giant Alcoa Inc. is engaged in negotiations to buy its first smelter in China. Talks regarding the purchase of Ming Zhu Aluminium ’have entered into detail’, an executive of the Panzhihua operation in Sichuan province told the Reuters news agency. Senior executives from Alcoa are understood to have visited the plant during early August.United States / China | US aluminium giant Alcoa Inc. is engaged in negotiations to buy its first smelter in China. Talks regarding the purchase of Ming Zhu Aluminium ’have entered into detail’, an executive of the Panzhihua operation in Sichuan province told the Reuters news agency. Senior executives from Alcoa are understood to have visited the plant during early August.
It was in 2003 that Alcoa first approached Ming Zhu Aluminium’s parent to discuss a possible purchase. It is thought that Alcoa plans to invest upwards of US$ 150 million in a hydro-power plant and in an expansion of the smelter’s capacity to 200 000-300 000 tonnes per annum.
Designed to achieve an annual aluminium smelting capacity of 100 000 tonnes, production pots for only 10 000 tonnes have been installed at Panzhihua owing to a lack of funds from its parent.