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Portland Smelter optimism

Portland Smelter optimism

Image from pixabay.

Alcoa update

Alcoa says the Federal Government is in talks to save Portland's aluminium smelter.

The smelter's future has been uncertain since October 2019 when Alcoa launched a program to ensure they only retained smelters that were financially and environmentally competitive.

Alcoa president Roy Harvey said on Thursday [15.10] efforts were underway to ensure its future but did not clarify if it was under review.

The company is reviewing their Smelters and said their focused on reducing the company's greenhouse gas emissions, as well as its financial performance.

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There's optimism because the Morrison government has vowed to protect the local manufacturing sector.

Despite high and variable power prices in Australia's Eastern states over the past five years, putting enormous pressure on the nation's smelting fleet, some relief has emerged this year as power prices slumped to the lowest levels in five years amid reduced demand from the pandemic.

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