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Alcoa to close Suralco alumina refinery, book $121M in combined Q4 charges

Jan. 03, 2017 5:14 PM ETAlcoa Corporation (AA) StockBy: Carl Surran, SA News Editor2 Comments
  • Alcoa (NYSE:AA) says it expects to permanently close its Suralco alumina refinery and bauxite mines in Suriname, which have been fully curtailed since November 2015.
  • Alcoa says it will record $90M in related restructuring charges during Q4, plus a $31M charge to impair gas exploration assets in Western Australia; it estimates the combined impact of the charges at $0.66/share.
  • AA also says Q4 results are not expected to be impacted by the Dec. 1 power outage at the Portland Aluminum smelter in Victoria, Australia.
  • AA -0.9% AH.

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