Alcoa: Suriname mines and refinery permanently shut down.

(CercleFinance.com) - US aluminium producer Alcoa will permanently shut down its production site and mines in Suriname, citing a need to continue to streamline its business.


The Suralco alumina refinery and bauxite mines have been fully curtailed since November 2015.

As a result of the closure of these sites, Alcoa will record 90 million dollars in restructuring-related charges in its fourth quarter 2016 accounts.

The company will record another 31 million dollars non-cash charge in the fourth quarter to impair Alcoa of Australia Limited's (AofA) interests in a Western Australia gas field.

The combined impact of the aforementioned charges is estimated to be 0.66 dollar per share.

Alcoa's share of total cash costs associated with the measures taken in Suriname is estimated to be around 151 million dollars over five years, with 24 million dollars to be spent in 2017.

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