South Africa – South African aluminium products manufacturer Hulamin has announced plans to invest ZAR 300 million (US$ 25.4 million) in an aluminium recycling plant that will take used beverage cans as its input material.
Based in Pietermaritzburg, the company has explained that gas-fired furnaces would provide recycled aluminium to the local market while using only a fraction of the electricity required to smelt new metal. Major financing will come via a new five-year loan from Nedbank worth ZAR 270 million (US$ 22.3 million).
According to Hulamin, global markets are growing for beneficiated aluminium products and, despite ‘fierce competition’, prices in the niches in which it specialises are ‘stable’.
The company will continue to focus on core competencies and product streams in 2015, it adds.