Yahoo Finance Noranda Announces Initial Intercontinental Alumina Shipment as Part of Multi-Shipment Arrangement with Chinese Aluminum Smelter
Franklin, Tennessee - August 31, 2015 - Noranda Aluminum Holding Corporation (NOR) announced today that it has completed a 31,000 metric tonne shipment of smelter grade alumina from its alumina refinery in Gramercy, Louisiana to an aluminum smelter in China. This shipment, which is part of a multi-shipment export arrangement at market prices, marks the first export shipment outside of North America in Gramercy`s 58-year history.
"This export shipment is an important step in improving the long-term sustainability of our Gramercy alumina refinery," said Layle K. "Kip" Smith, Noranda`s President and Chief Executive Officer. "By demonstrating sustained improvement in its process control and operational reliability, Gramercy generated sufficient production to meet the needs of its existing customers and expand the geographic scope of its customer base. In a volatile aluminum environment, I`m proud of the Gramercy team`s success in improving the cost profile of our Alumina business and creating additional flexibility for Noranda."
Noranda`s alumina refinery is situated along the Mississippi River approximately 45 miles up-river from New Orleans, Louisiana, Oceangoing freighters supply the refinery with bauxite from Noranda`s bauxite mining operation in Jamaica. Utilizing the Bayer refining process to chemically extract alumina from bauxite, Gramercy has an aggregate annual production capacity of 1.2 million metric tonnes of alumina, including smelter grade alumina and alumina hydrate, or chemical grade alumina.
About the Company
Noranda is a leading North American integrated producer of value-added primary aluminum and high-quality rolled aluminum coils. Noranda`s Upstream Business is one of the largest U.S. producers of primary aluminum, and consists of three reportable segments: Primary Aluminum, Alumina and Bauxite. These three segments are closely integrated and consist of a smelter near New Madrid, Missouri ("New Madrid,") and supporting operations at the Company`s bauxite mining operation ("St. Ann") and alumina refinery ("Gramercy"). Noranda`s Downstream Business comprises its Flat-Rolled Products segment, which is one of the largest aluminum foil producers in North America, and consists of four rolling mill facilities.
Contact Information
John A. Parker
Vice President of Communication and Investor Relations
(615) 771-5734
john.parker@noralinc.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Noranda Aluminum Holding Corporation via GlobeNewswire
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