Alcoa Commits to Build Low-Emission Mills Using Elysis Technology

SEATTLE (Scrap Monster): Alcoa Corporation has reiterated its promise not to add new aluminum capacity. The company has no plans to add capacity by building or restarting existing smelters using conventional technology.

While speaking at the BMO Capital Markets conference in Florida, Roy Harvey, Chief Executive Officer, Alcoa Corporation said that the company stands by its earlier commitment to build only low-emission mills using technology from Elysis- the joint venture between Alcoa and Rio Tinto Group.

The new technology makes aluminum with novel production techniques that don’t emit carbon dioxide. The company expects the project to begin operations at commercial scale in a few years.

Commenting on the present market situation, Harvey noted that the Russian invasion of Ukraine is unlikely to have any direct impact on Alcoa’s business. However an extended war situation will have impacts on global alumina supply, which in turn may affect aluminum production in the long-term. Alcoa will rethink about aluminum sales to Russian companies, in the event of increased sanctions on Russia by world countries, Harvey said.

The comments from Alcoa’s top executive comes at a time when aluminum surged to all-time high on Monday on fears of global shortages of the industrial metal, in the wake of strengthening attacks on Ukraine.

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