TORONTO NORANDA subsidiary Noranda Finance of Nashville, Tenn., plans to acquire a 50% interest in alumina refining and related bauxite mining assets from KAISER ALUMINUM & CHEMICAL CORP. Noranda has offered US$11.5 million for half of the assets, and CENTURY ALUMINUM will acquire the other half for the same amount. Kaiser’s assets are on the block as part of its Chapter 11 bankruptcy reorganization.
The alumina refinery in question is located in Gramercy, Louisiana. A second company, jointly owned by Noranda and Century, will purchase Kaiser’s 49% interest in KAISER JAMAICA BAUXITE.
The acquired operations will provide feed to Noranda’s primary aluminum reduction plant in New Madrid, Missouri. The New Madrid smelter produced 244,044 tonnes of metal in 2003 and employs 1,100 people. Noranda is better known as a base and precious metals producer, but details of its aluminum businesses are available at www.noranda.com. A fact sheet about the Kaiser refinery is available at the same site.