Dubai — Aluminium Bahrain, or Alba, said Dec. 6 it signed a memorandum of understanding with China's Hangzhou Jinjiang Group Co. (HJJ) with the aim of providing raw material alumina to the Gulf state aluminum producer.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
"The MoU serves as a framework to form a strategic potential collaboration between both entities in terms of securing Alba's alumina requirements," Alba said in the statement. "The MoU will remain in effect for a period of three years and can be extended based upon mutual agreement amongst both parties." HJJ has annual nameplate capacity of 10 million mt.
Alba, which had an annual production of more than 1.35 million mt in 2019, reported third-quarter total primary aluminum production of 385,638 mt, flat compared with the same Q3 2019, and sales volume of 393,177 mt, up by 5% year over year, in an earnings release on Oct. 26.
Alba plans on achieving its nameplate production target of 1.54 million mt by the end of 2020 and continues to explore upstream opportunities to secure one-third of its alumina requirements. The company also plans on establishing a branch in Singapore, as well as penetrate new markets for foundry and slabs.