Norsk Hydro: Hydro issues force majeure notice due to production problems at MRN
(Thomson Reuters ONE) -
Hydro has issued a notice of force majeure to its bauxite customers as Hydro
will not receive the full contracted volumes from its supplier, MRN, due to
lower production at the bauxite mine. This will affect Hydro's bauxite
deliveries to customers in.
MRN, where Hydro has a 5% ownership and additional 40% offtake, is experiencing
problems with its tailing systems due to lack of water. The lack of water is
caused by a very dry period in the region. This is expected to reduce production
of bauxite from a previously expected level of 17-17.5 million mt to around
15-15.5 million mt in 2017.
As the production shortfall is mostly related to dry bauxite for the export
market, it is not expected that production at the Alunorte alumina refinery will
be affected.
MRN has a nameplate capacity of around 18 million mt and is one of the world's
largest bauxite mines.
Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle(at)hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland(at)hydro.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norsk Hydro via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.09.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 561024
Anzahl Zeichen: 1626
contact information:
Town:
Oslo
Kategorie:
Business News
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