Alcoa Presses on with Refinery Closure Plans

Pittsburgh-based #Alcoa# (NYSE: AA) and Australia's WMC are pressing on as planned to suspend operations at their St Croix alumina refinery in US Virgin Islands on January 31, Alcoa spokesperson Joyce Saltzman told BNamericas.com. Fresh planned production shutdowns in the US Pacific Northwest, mainly due to high power prices, has aluminum analysts speculating on when idle capacity will be restarted elsewhere, or planned shutdowns in other parts will be delayed. "There are no changes in the plan at St Croix as announced," Saltzman said. "We are well supplied with alumina and we are presently maintaining our Pacific Northwest operations. "If there are any changes, we shall announce them to the market," she added. In its November announcement of the St Croix suspension, Alcoa said: "Future production from St Croix will be evaluated in light of internal and external supply commitments." The 600,000tpy refinery is producing at some 450,000tpy and has operated since December 1997. It sells alumina to Alcoa-operated smelters in the US. The St Croix closure will costs an estimated 350 jobs.