Alcoa Corporation president and chief executive Roy Harvey has praised the company’s productivity, with record bauxite output driving stability across the company.
The company shipped a record of 12 million-plus dry metric tonnes of bauxite during the third quarter of 2020,
Boosted by this result, Alcoa’s bauxite shipments are expected to range between 48 and 49 million dry metric tonnes by the end of 2020.
This result also allowed Alcoa to boost its alumina third-party shipments by approximately 6 per cent, thanks to higher overall bauxite production.
Due to higher alumina prices and shipments during the third quarter, Alcoa’s revenue increased by 10 per cent to $2.4 billion.
Alcoa president and chief executive officer Roy Harvey commended the company’s efforts to not only maintain stability, but exceed it with record results, despite the COVID-19 pandemic.
“We are doing far more than simply maintaining stability,” Harvey said. “We are setting production records, driving productivity, reducing costs and improving our balance sheet.
“Across all of our segments, we are delivering solid results and continuing to improve overall performance.
“In the third quarter, we captured the gains from better pricing in alumina. All of this is aligned with our strategic priorities and is only possible because of the dedication of our people and the work to protect safety and health during these unprecedented times.”
Alcoa owns seven active bauxite mines globally and operates four of them, including the world’s second largest bauxite mine, the Huntly mine in the south-west of Western Australia.
In 2019, Huntly supplied around 27 million tonnes of bauxite to the Pinjarra alumina refinery, which has the capacity to produce more than 4.2 million metric tons (3.8 million tonnes) of alumina per year.