Alcoa Corporation intends to permanently close the Suralco alumina refinery and bauxite mines in Suriname, fully curtailed since November 2015.
The Government of the Republic of Suriname and Alcoa continue to develop definitive agreements concerning Suralco’s remaining activities in the country and the future of the bauxite industry in Suriname. Pending completion of those agreements, Alcoa will continue to operate the Afobaka hydroelectric facility, which supplied power to the Suralco operations.
“We are working in partnership with the Government of the Republic of Suriname to reach the best possible solution that would enable Suriname to maintain its bauxite industry. Dialogue is ongoing and progress is being made,” said Roy Harvey, Chief Executive Officer of Alcoa.
As a result of the permanent closure of the mines and refinery, Alcoa will record $90 million in restructuring-related charges, after tax and noncontrolling interest in the 2016 fourth quarter.
Published in the February 2017 Edition of American Recycler News