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| Alcoa |
New Partnership Aims to Stabilize Alcoa’s Operations and Ensure Long-Term Sustainability
Alcoa, the prominent US aluminium producer, has formally partnered with both the Spanish national government and the Galician regional authorities through a Memorandum of Understanding (MoU) to enhance the operations of the San Ciprian smelter in Spain. This strategic alliance is aimed at securing the smelter’s future operations, marking a significant development in Alcoa’s commitment to maintaining its footprint in Europe.
Previously, Alcoa attempted to divest the San Ciprian facility in 2021 but faced challenges due to deteriorating economic conditions. However, an initial agreement with labor representatives early in 2023 set the stage for a potential full restart by the following year. Despite these efforts, continued economic hurdles led Alcoa to reevaluate its options, culminating in today's MoU announcement.
Alvaro Dorado Baselga, Alcoa’s global vice-president for energy, highlighted the MoU's focus on collaboration and sustainable growth. The agreement encompasses various initiatives, including dialogue with labor unions, streamlining renewable energy projects, enhancing CO2 compensation, and approving crucial investments in waste management infrastructure. Baselga expressed optimism about using the current momentum to finalize negotiations with key stakeholders and secure a prosperous future for the San Ciprian plant.
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