Rio Tinto Faces A $10.8bn Write-down Over Its Alcan Acquisition

THE market is starting to factor in the prospect of Rio Tinto taking a $US7billion ($A10.8billion) write-down on its $US38billion acquisition of Canadian aluminum producer Alcan when it releases its full-year results in February.

Rouble Trouble For Russia's Rich

RUSSIAN billionaires from aluminum magnate Oleg Deripaska to Chelsea soccer-club owner Roman Abramovich have lost more than $US230 billion ($363 billion) in five months during the nation's worst financial crisis since the 1998 default on its debt.

Meccano Caravan Bolts Off With Helen Lempriere Award

A SCULPTURE inspired by a caravan built by Albert Tucker in his Paris hotel room has won has won this year's $115,000 Helen Lempriere National Sculpture Award. L'Archeveche by the Tasmanian artist Bob Jenyns, is two-thirds the size of Tucker's mobile home and made from large Meccano-like pieces of powder-coated aluminum.

China Raids Rio

BHP Billiton's plan to create a $380 billion mining colossus through the takeover of a reluctant Rio Tinto has been thrown into disarray following the dramatic eleventh-hour intervention of Aluminum Corp of China and US aluminium giant Alcoa.

Ellison's Cup Dream Shattered After Carte Diamond Falls At Final Hurdle

British hurdler Carte Diamond's Melbourne Cup bid was derailed in spectacular fashion at Flemington yesterday morning when the five-year-old crashed into an aluminum running rail.

An Aluminium Ascent Into The Light

When Bronwyn Oliver was invited to build a sculpture for the lobby of the new Hilton Sydney she wrote out a list of things she would need: $500,000, 12 months of work time, 350 kilograms of aluminum and a team of eight Croatian welders.

Moving Up To The Quay

THE 38th-floor Quay West penthouse has been sold to low-key Ramsay Healthcare chairman Paul Ramsay for close to $6.15 million. The three-bedroom, split-level 265-square-metre penthouse facing the harbour last traded at $2.925 million in early 1993 when bought by Beverly Hills alumina building products magnate Cornelius Vanderstar and his wife Marguerite . Vanderstar owns about 41 per cent of the company he founded in 1957, International Aluminum Corporation, which had $US192 million ($244 million) in sales

Alumina Looking Good As Alcoa Shines In Q4

Alcoa, the world's largest aluminum maker, kicked off what is expected to be busy year for the resources sector with a solid fourth-quarter profit, a result that augurs well for its Australian partner, Alumina.

Smorgon To Spearhead Legal Challenge Over Alcoa's Power Levy

Several industrial companies are considering mounting a legal challenge to a Victorian Government levy designed to pay for subsidised electricity to Alcoa's Portland aluminum smelter.

Alcoa To Build Plant In Iceland

Alcoa of the US has moved to recapture market favour by making an early commitment to building the $US1.1 billion ($A1.88 billion) Fjaroaal (Aluminium of the Fjords) aluminum project facility in eastern Iceland.

Bjork's Starving

THE mother of Icelandic pop queen Bjork is in the midst of a hunger strike in a bid to persuade the world's largest aluminum producer, Alcoa, to pull out of a project in the Icelandic highlands.

Land Purchase Clears Hurdle For Mill

THE NSW Government has bought 550ha of land from Tomago Aluminum, clearing a major hurdle in the way of the long-awaited Austeel mill.

The Source

Designer Bathware Rogerseller is a great place to head for marvellous new bathware pieces with a fashion edge. The Aluminum and System ranges, pictured, launched by Italian manufacturer Cosmic in Frankfurt earlier this year, have arrived. There are cabinets, storage solutions, shelves and mirrors

Aluminium Prices Surge

Aluminium prices surged to 10-month highs, after an explosion cut alumina output at a major Kaiser Aluminum refinery in the US, sending share prices of local producers WMC, Comalco and Capral sharply higher. WMC, which produces about 30 per cent of the world's alumina from its joint venture with

Comalco Sells Off Mill Assets

Aluminum Company of America (Alcoa) and the Japanese metals giant Kobe Steel confirmed yesterday that they had teamed up to buy Comalco's rolled products operations. The sale price was not disclosed but is believed to have been about $90 million. Comalco expects to book a loss of about $10 milli

Alcoa Pays Out $100m Dividend

ALCOA of Australia, the aluminum producer that is 60-owned by Aluminum Co. of America, has paid a dividend to its three shareholders of $100 million for the third quarter to Sept 30. Western Mining Corp, the Australian diversified mining company, said in a statement it has received $39.25 millio

Wmc In Virgin Islands Acquisition

Western Mining Corporation's $1 billion global alumina alliance with the Aluminum Company of America has begun to pay dividends for the Melbourne-based mining giant. The two companies said yesterday they would replace the international commodity trader Glencore as the owners of the St Croix alum

Alcoa Improves

PITTSBURGH: Aluminum Co of America's first-quarter earnings have soared from a year ago, reflecting the industry's resurgence amid higher prices, stronger demand and production cuts. Pittsburgh-based Alcoa, the world's largest aluminum producer, said net income jumped to $US193.8 million, or $US1

Comalco Sells Us Subsidiary

Comalco yesterday put aside the distraction of the MIM-bound departure of its managing director, Mr Nick Stump, to report that the sale of its American business had gone off with less than a bang. The CRA subsidiary reported it had sold 87.5 per cent of the Kentucky-based Commonwealth Aluminum Co

Comalco Ponders Sale Of Us Offshoot

Comalco said yesterday it would make a decision early next month on whether to proceed with the $350 million sale of its United States offshoot, Commonwealth Aluminum Corp (CAC). The CRA subsidary flagged the sale, through a public offering in the North American markets, before Christmas and has