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Alcoa to close Anglesea coal mine, power station

May 12, 2015 9:15 AM ETAlcoa Corporation (AA) StockBy: Carl Surran, SA News Editor2 Comments
  • Alcoa (NYSE:AA) says its Australian unit will permanently close its Anglesea coal mine and power station on Aug. 31, after failing to find a buyer for the site.
  • AA says it expects to record a related restructuring charge in 2015 of $30M-$35M, or $0.02-$0.03/share, with ~80% of the charge to be recorded in Q2.
  • Separately, Saudi Arabia's Ma'aden says a massive smelter run jointly with Alcoa, which had experienced some technical glitches on start-up, will produce above its initial capacity target this year.

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