The Saudi Arabian Mining Company (Ma’aden) and lightweight metals leader Alcoa have achieved a major milestone with the production of the first alumina at their joint venture aluminum complex in Ras Al Khair, Saudi Arabia.
Alcoa reported a stronger-than-expected increase in third-quarter profit as higher aluminum prices and lower costs drove a recovery in its business unit that produces aluminum.
In the third quarter, the US company's net income
Saudi Arabian Mining Company (Ma'aden) said on Monday its $10.8 billion joint aluminium smelter with US-based Alcoa has started commercial operations.
The aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had
Alcoa has agreed to pay $384 million to settle charges by the US Securities and Exchange Commission and the US Department of Justice that its subsidiaries bribed foreign government officials, the agencies said on Thursday.
Aluminium producer Alcoa Incorporated said the smelter at Ma'aden, Saudi Arabia, which is in its start-up phase, has temporarily stopped production on one of two potlines.
The company said the potline was s
Alba last night announced it had agreed an out-of-court settlement worth $447 million in a racketeering and fraud lawsuit against US-based Alcoa, a major aluminium producer.
The settlement value will be realised in a combination of cash
Russia's United Company Rusal, the world's top aluminium producer, reported sharply lower profits for the second quarter on Monday, battered by high inventories and low prices, and trimmed its outlook for global aluminium consumption.
Engineering and construction company Fluor Corporation said it has clinched a major contract from Saudi Maaden-Alcoa JV firm to provide engineering, procurement, and construction management (EPCM) services at its facility in Saudi Arabia.
US aluminium producer Alcoa has offered to pay Bahrain-based Alba, one of the largest aluminium smelters in the world, at least $45 million in an out-of-court settlement, according to reports.
Alba has filed a federal lawsuit, all