Noranda says Ameren will not extend smelter's power contract

• Noranda Aluminum (NOR) -4.4% AH after disclosing that Ameren's (NYSE:AEE) Missouri division will not extend a power contract for its smelter in New Madrid after the current contract expires in 2020.
• In the latest obstacle for its only primary aluminum plant, NOR would need to seek a new power supplier or renegotiate a new contract with AEE in five years to keep the Missouri smelter running.
• NOR says that even if the agreement terminates in 2020, it believes AEE is legally obligated to supply electricity to the facility under a certificate of convenience and necessity issued by the state's public service commission.