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Friday, January 01, 2010

Are the Russians serious about their Inert Anode technology?

It seems that at same time they will succeed an IPO backed by China and major private investors, a massive debt-to-equity conversion, quasi-equity financing by the State, and government financing for the technology that will eliminate CO2 emissions in aluminum smelting. Not bad for the New Year. This suggests most important long term questions which we discuss here – scroll searching for ‘Rusal IPO’. Meanwhile we read good news here about LME inventories and prices in this article. This new smelter now running at full capacity will certainly keep investing. Here is another country planning to become an aluminum producer for the first time. In this country, aluminum demand will rise 15% this year. In this greenfield project, now rated as very serious, the main investor and technology supplier changes. This old smelter is saved by an energy contract – scroll down looking for ‘lifeline’ - which means some refitting down the road. This European country undertakes major energy investments which will save its smelter. Smelter will invest now. This controversial greenfield, the first for this country, seem to move ahead despite political opposition. But in this country, energy priorities may finally trigger a shutdown. Here is a probable greenfield to be build soon. This smelter survives and plans boosting production and refittings. This smelter gets an interesting power deal, meaning again some extension. This Chinese power firm will invest $8 billion, to support major aluminum projects. This alumina expansion indicates that a dedicated smelter keeps on investing. This major international utility will invest in nuclear energy in China, which will add support to the aluminum industry. And here is another country where massive investments, in railroad systems for bulk freight, comes to the support of a greenfield project.

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Since 1991 ENAL has operated a Delphi Panel of Experts participating as Panelists, to forecast future investments. The ENAL Newsletter is possible thanks to this panel.