Ma′aden Alcoa Aluminum Joint Venture Pours First Concrete for Middle East′s First Alumina Refinery at Ras al Khair
Conservation of resources key design factor
The Ma′aden Alcoa (NYSE: AA) aluminum joint venture today announced that
it has poured the first concrete in the construction of the region′s
first alumina refinery at the fully integrated aluminum complex at Ras
Al Khair. Once complete, the refinery will initially produce 1.8 million
metric tonnes of smelter-grade alumina per year. In another first within
the Kingdom, the refinery will utilize a technologically advanced,
engineered natural system to treat, recycle and conserve significant
volumes of water.
Speaking at the ceremony marking the pouring of first concrete, Engineer
Abdullah Busfar, chairman of the board of directors of Ma′aden Aluminium
Company, said that the refinery was highly symbolic of the Kingdom′s
emerging strength as a competitor in the regional and global aluminum
industry.
'We have everything we need to develop a fully integrated aluminum
industry within Saudi Arabia,? Busfar said. 'In Ma′aden itself we have
the experience and local knowledge required to develop the bauxite
reserves and the other natural resources needed for feedstocks. We have
the support and leadership of the Government. And we have a partnership
with Alcoa that is accelerating the development of the skills and
technology required to build out this complex and the downstream
opportunities it will create.?
Ken Wisnoski, Alcoa Vice President and President of Alcoa′s Primary
Products Growth group, added that the joint venture′s commitment to
world-class design and low operating costs was apparent throughout the
complex.
'The refinery, as with the smelter and the rolling mill, will be based
on best-in-class technologies and operating practices. Conserving
resources is crucial to maintenance of low operating costs and, as with
the other facilities within this complex, this refinery has numerous
advantages designed to reduce its demand on energy and other natural
resources, such as water. We′re pouring concrete today as the foundation
for a long-term, highly competitive, low-cost and sustainable
operation,? Wisnoski said.
Ma′aden President and CEO Khalid Al Mudaifer commended the project team
for their ingenuity in applying measures to protect the environment. He
also highlighted the project′s role in creating new careers for Saudi
nationals and developing a local supplier program to benefit communities
near the future operations.
The complex′s smelter and rolling mill are scheduled to begin production
in 2013. The mine and refinery will follow in 2014.
About the Ma′aden Alcoa aluminum joint venture
In its initial phases, the joint venture will develop a fully integrated
industrial complex which will become the world's preeminent and
lowest-cost supplier of primary aluminum, alumina and aluminum products,
with access to the growing markets of the Middle East and beyond. The
complex comprises:
A bauxite mine with an initial capacity of 4,000,000 metric tons per
year
An alumina refinery with an initial capacity of 1,800,000 metric tons
per year
An aluminum smelter with an initial capacity of 740,000 metric tons
per year
A rolling mill, with initial capacity of 380,000 metric tons per year.
The mill will be the first in the Middle East and will be one of the
most technically advanced mills in the world.
First commercial production from smelter and mill is scheduled for 2013,
followed by first commercial production of alumina from the mine and
refinery complex, scheduled for 2014. Alcoa will supply alumina to the
smelter in the interim period.
About Ma′aden
Ma'aden was established as a Saudi Arabian joint stock company in March
1997 to facilitate the development of Saudi Arabia′s non-petroleum
mineral resources and to diversify the Kingdom′s economy away from the
petroleum and petrochemical sectors. Ma′aden is engaged in the
development, advancement and improvement of all aspects of the mineral
industry, mineral products and by-products and related industries in
Saudi Arabia. In July 2008 Ma′aden offered 50% of the company′s shares
for subscription in a successful SR 9.25 billion IPO. Ma′aden has
progressed towards realizing its vision of building a world class
mineral enterprise and its mission of being a profitable, publicly
owned, international mining company, while maintaining the utmost
concern for human resources, health and safety, environmental and social
issues.
Ma'aden is engaged in the development, advancement and improvement of
all aspects of the mineral industry, mineral products and by-products
and related industries in Saudi Arabia. The company is committed to the
best international and local standards in environmental regulations and
values its role in Corporate Social Responsibility.
Ma'aden has progressed towards realizing its vision of building a world
class mineral enterprise and its mission of being a profitable, publicly
owned, international mining company, while maintaining the utmost
concern for human resources, health, safety, environmental and social
issues.
About Alcoa
Alcoa is the world′s leading producer of primary and fabricated
aluminum, as well as the world′s largest miner of bauxite and refiner of
alumina. In addition to inventing the modern-day aluminum industry,
Alcoa innovation has been behind major milestones in the aerospace,
automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ? wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 10 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 61,000 people in 31
countries across the world. More information can be found at www.alcoa.com.
Editorial Contacts:
Alcoa
Libby Archell, 212-836-2719
or
Ma′aden
Aqeel
Alonazi, 966 553063813
or
Investor Relations:
Alcoa
Kelly
Pasterick, 212-836-2674