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[June 2003]
Landmark Alumina Deal is Signed
Comalco and Hydro Aluminium announced on 13 June 2003 that they had signed one of the largest alumina supply contracts in the history of the aluminium industry.
Under the agreement, starting with a volume of 300,000 tonnes in 2005, Comalco will supply Hydro Aluminium with 500,000 tonnes of alumina annually from 2006 through to 2030. The agreement allows for volume increases at different stages during the duration of the contract.
Hydro Aluminium plans to use the alumina to secure future supply to its Australian operations. Comalco will supply alumina for this contract through its 39% share in Queensland Alumina's refinery and its new, wholly owned Comalco Alumina Refinery, due to make its first shipments in 2005 - both based in Gladstone in Australia.
Hydro Aluminium is one of the top three integrated, global aluminium companies and the leading aluminium company in Europe.
Comalco, a wholly owned subsidiary of Rio Tinto, is a major Australian-based supplier of bauxite, alumina and primary aluminium to world markets. It operates or has interests in bauxite mines in Australia and Guinea, alumina refineries in Australia and Sardinia, Italy and aluminium smelters in Australia and New Zealand.
ENDS