Norsk Hydro Signs Amendments to Conduct Agreement for Alunorte Refinery
March 26 2019 - 2:23PM
Dow Jones News
By Oliver Griffin
Norsk Hydro ASA (NHY.OS) said Tuesday that it has signed
amendments to a conduct agreement with the Ministerio Publico and
government in Brazil's Para state regarding its Alunorte alumina
refinery.
The Norwegian aluminum-and-energy company said Hydro Alunorte
has agreed to have third-party technical assistance to assess
whether reports from environmental agency SEMAS and the University
of Campina Grande--which concluded the refinery can safely resume
normal operations--comply with technical parameters and relevant
applicable rules.
Norsk Hydro said if the third-party assessment supports the
conclusions, Ministerio Publico will file a petition in the Federal
Court in Belem confirming it wouldn't oppose lifting Alunorte's
production embargo.
Production has been running at 50% capacity for most of the last
10 months after Brazilian authorities ordered the company to lower
water levels at the refinery's bauxite-residue deposit amid
flooding and possible water contamination.
The court in Belem has scheduled a conciliatory hearing for
April 4 between Alunorte and Ministerio Publico regarding the
production embargo.
The court has appointed two technical experts to assist the
court in its evaluation of technical issues related to the Alunorte
situation, Norsk Hydro said.
The company said technical experts were given 60 days to conduct
their evaluation. The formalization process of the technical
experts is expected to take at least 30 days.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
March 26, 2019 14:08 ET (18:08 GMT)
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