Norsk Hydro halts output at key Brazil plant, share plunges
by Staff Writers
Oslo (AFP) Oct 3, 2018
Norwegian aluminium group Norsk Hydro said Wednesday it will suspend production at the world's largest alumina plant in Brazil as it had not received authorisation to use a new waste deposit area.
The company's share price plunged by 13.8 percent in morning trading on the Oslo Stock Exchange.
Norsk Hydro has since March been ordered to halve its production at the Alunorte plant as Brazilian authorities have accused the group of having contaminated the Baracena municipality's waters with bauxite residues, which they claimed had overflowed from a deposit basin after heavy rainfall in February.
The company vehemently denies any toxic spill.
Although both parties signed agreements in early September to settle the environmental dispute, Norsk Hydro has still not been allowed to resume full production at Alunorte or put a brand new storage basin into operation.
The existing deposit area is "approaching its end of life faster than anticipated, forcing Alunorte to take the responsible decision to temporarily shut down 100 percent of its operations," the group said in a statement.
This closure will likely boost the price of alumina or aluminium oxide -- which is extracted from bauxite and is an essential component of aluminium.
It will also weigh on the results of Norsk Hydro, already plagued for months by its setbacks in Brazil.
With a capacity of more than six million tonnes per year, the Alunorte facility which is 92.1 percent owned by Norsk Hydro, accounts for about 10 percent of global production, excluding China.
"While it is too early to determine the full impact, the decision to close Alunorte and Paragominas will have significant operational and financial consequences," the company said.
Scientists solve the golden puzzle of calaverite
Moscow, Russia (SPX) Oct 01, 2018
Scientists from Russia and Germany shed light on the crystalline structure of calaverite, foretelling the existence of a new gold compound previously unknown to chemists. The results of their study were published in the reputable scientific journal PNAS. A gold tellurite with the chemical formula AuTe2, calaverite may not only be a source of gold, but displays highly incommensurate modulation in the positions of gold and tellurium atoms in its crystals. This means that calaverite's crystal l ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.