Indonesia is grabbling a lot of attention these days, thanks to ambitious plans by Chinese investors to bet big on aluminum smelting. This is not the first time that Indonesia has captured the attention of the aluminum industry.
The world’s second-largest miner by market value said it now expects the aluminum raw material to hit the higher end of its full-year guidance range, the company said in its second quarter production report.
The recertification, which is valid for three years, includes the company’s ingot casting, rolling of aluminum coils and strips, extrusion, fabrication and surface finishing, and the manufacturing of aluminum tubes.
Terminal markets firmed up amid new smelting announcements, tightening bauxite expectations, and jittery macro signals.
Pittsburgh-based aluminum company Alcoa wants to acquire its Australian partner, Alumina Limited, in an all-stock deal valued at $2.2 billion.