NHYDY - Rio Tinto Norsk Hydro to close Aluchemie anode plant

Rio Tinto ([[RIO]] +4.4%) and Norsk Hydro (NHYDY) announce plans to close their jointly-owned Aluchemie anode production facility in The Netherlands at the end of 2021, and have begun the consultation process with European works councils and union representatives on the planned closure.The companies say it is not viable to make the ongoing investments needed to continue operating the plant due to its "weak competitive position and challenging market conditions."The plant's total production capacity exceeds 500K metric tons/year, but annual production has been cut to 215K tons, as four of the plant's seven anode baking furnaces already have been permanently closed.

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Rio Tinto, Norsk Hydro to close Aluchemie anode plant