Alcoa Corp. Says Portland Aluminium Joint Venture Smelter To Cut Production To 75%

(RTTNews) - Alcoa Corporation (AA), one of the largest aluminium producers, said on Wednesday that the Portland Aluminium smelter in Victoria of Australia will cut its overall production to about 75% due to operational instability.

The smelter has recently faced issues related to the production of rodded anodes.

Effective immediately, the output at the smelter will remain reduced until it restores its stability.

Production at the smelter will be reduced to around 75 percent of the site's total capacity of 358,000 metric tons per year (mtpy).

Alcoa's share of the total capacity stands at 197,000 mtpy.

Earlier, the smelter was operating at about 95 percent of its total capacity.

Alcoa of Australia Limited owns 55 percent of Portland Aluminium joint venture, followed by CITIC Nominees Pty Ltd of 22.5 percent, and Marubeni Aluminium Australia Pty Ltd of 22.5 percent.

Alcoa owns 60 percent of Alcoa of Australia, while Alumina Limited owns remaining 40 percent.