Norsk Hydro: Federal Court lifts one of two production embargos on Alunorte
May 15 2019 - 10:00PM
The Federal Court in Belém, Brazil, lifted the production
embargo on Alunorte under the civil lawsuit on Wednesday, May 15.
Alunorte is still subject to a production embargo imposed by the
same court in a parallel criminal lawsuit, but Alunorte is
expecting an extension of the civil decision to the criminal case
shortly. No decision has been taken on the embargos on the new
bauxite residue disposal area (DRS2).
Alunorte will continue to produce at 50% capacity until the
production embargo under the criminal case is lifted.
The decision to lift the production embargo in the civil case
against Alunorte came after a conciliatory hearing on April 12,
where Ministério Público and Alunorte provided the federal court
with a joint petition to lift both production embargos.
“I am pleased with the support from local stakeholders and our
employees. We are looking forward to be able to resume operations
at Alunorte and restart the full alumina value chain, which will be
positive for us and the state of Pará”, says John Thuestad, EVP of
the Bauxite & Alumina business area.
As the federal court’s embargo preventing Alunorte from using
its new DRS2 bauxite residue deposit area remains in force,
Alunorte continues to utilize the DRS1 depository based on
state-of-the-art press filter technology. Alunorte estimates a
remaining lifetime of 8-18 months in DRS1, depending on production
volume. Further geotechnical studies will be conducted, aiming at
verifying an extended lifetime of DRS1.
Investor contactsStian Hasle+47
97736022Stian.Hasle@hydro.com
Press contactErik Brynhildsbakken +47
41751271Erik.Brynhildsbakken@hydro.com
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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