NHYDY - Hydro completes sale to Glencore | Benzinga
Hydro has completed the USD 1.11 billion transaction for the sale of 30 percent interest in the Brazilian alumina refinery Hydro Alunorte and Hydro's 5 percent interest in the bauxite producer Mineracão Rio do Norte (MRN), together with Vale's 40 percent stake in MRN.
"We are looking forward to work with Glencore to further develop Alunorte. Glencore has broad industrial experience within metals and mining, which adds to the significant progress our bauxite and alumina area has made to bring down the footprint of alumina production. This enables Hydro to strengthen our position in low-carbon aluminium," says President and CEO, Hilde Merete Aasheim.
Hydro and Glencore will continue efforts to reduce carbon ...