【Ferro-alloys.com】：Restarted capacity at Alcoa’s Portland smelter in south-west Victoria is selling into rising aluminium prices, part of a production lift that helped deliver the aluminium producer’s biggest revenue result yet.

The company, which also mines bauxite and refines alumina south of Perth in Western Australia, packed plenty into the three months to June. Portland finished its capacity restart, and the period closed with a $US4.1 billion ($5.9 billion) deal for South32’s bauxite, alumina and aluminium assets, including Worsley Alumina near Collie.

“During the second quarter, in addition to delivering strong financial results that captured favorable aluminum prices, our team executed on strategic initiatives, most notably the announced agreement with South32,” Alcoa president and chief executive officer (CEO) William Oplinger said.

Aluminium production rose 5 per cent to 636,000 tonnes across the group, four smelters and one refinery set year-to-date production records, and revenue hit a record $US4 billion ($5.7 billion), up 24 per cent on the March quarter.

Those extra tonnes sold into a strong market. Alcoa’s average price for aluminium reached $US4752 ($6828) per tonne, up 13 per cent on the March quarter, and shipments jumped 18 per cent to 726,000 tonnes.

There was more to come in July, when about 1400 WA mining and refining workers signed on to a new four-year agreement with the Australian Workers Union, and Alcoa and the Australian, US and Japanese Governments locked in a final investment decision on a gallium plant at the Wagerup refinery south of Perth. The plant is set to supply around 10 per cent of the world’s gallium.

Alcoa banked $US608 million ($874 million) in cash from operations and expects to produce up to 2.6 million tonnes of aluminium in 2026.

“We continue to demonstrate operational excellence and positive momentum in our disciplined approach to maximize value creation.”

• [Editor:Alakay]