Glencore became a party to the Alunorte and Mineração

Purchase

Glencore has announced that at the beginning of December with Norsk Hydro, it closed the transaction to purchase a 30% equity stake at GRUPO ALUNORTE and a 45% equity stake in Mineração Rio do Norte.
After the purchase, Glencore with Hydro and other minority stakeholders has become a party to the Alunorte joint venture. In the case of Mineracão Rio do Norte S.A, Glencore is part of a joint venture with South32 and Rio Tinto.

Alunorte and MRN

Alunorte is the world’s largest alumina refinery outside China. The bauxite which is used in Alunorte to produce aluminum comes from Mineração Paragominas through a pipeline and from Mineração Rio do Norte through the port of “Vila do Conde”.

Robin Scheiner has stated: “We look forward to working with our new joint venture partners and the respective management teams at these world-class assets.”

According to the announcement, Glencore will have offtake rights for the life of the mine in respect of its pro rata share of the production from both Alunorte and Mineracão Rio do Norte S.A.