Greenland courting Alcoa to build smelter

• Greenland hopes to begin formal negotiations with Alcoa (AA +1.7%) on building a smelter capable of producing 340K metric tons/year of aluminum, the country’s finance minister says.
• Alcoa has been closing high-cost smelters and refocusing investment in divisions that roll and form aluminum into high-tech components used in cars and commercial aircraft.
• “The Greenland government has interest in making the Alcoa project successful, a pioneering project for Greenland,” the finance minister says.