Alunorte's full restart looks imminent as federal prosecutor requests embargo to be lifted; reinforces our bearish view on alumina and aluminum prices
At the April 12 hearing, Brazil's Ministéiro Público and Hydro delivered a joint petition to the federal court in Belem to lift the production embargo against Hydro's Alunorte alumina refinery. According to Hydro, the petition follows an independent expert report, paid by Ministéiro Público, that concluded Alunorte can safely restart production. This independent expert report confirmed the findings of two different studies previously conducted by the state environmental agency SEMAS and the Federal University of Campina Grande, which also showed Alunorte could resume safe operations. The final decision to lift the embargo is now in the court’s hands.
More details in full report.