The Aluminum Recycling Revolution

The Aluminum Recycling Revolution

Here's a look at the history of aluminum recycling and what a few companies are doing to take recycling initiatives to the next level.

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Company News

Orbite Aluminae Announces $8.5 Million Bought Deal

Orbite Aluminae (TSX:ORT) announced that it has entered into an underwriting agreement to raise gross proceeds of $8.5 million. Euro Pacific Canada has agreed to buy 8,500 units at a price of $1,000 per unit, and may purchase an additional 6,500 units within 30 days of the bought deal closing of the offering, which would bring aggregate gross proceeds to $15 million.

Century Expands Share Repurchase Program by $50 Million

Century Aluminum Company (NASDAQ:CENX) announced it has increased its share repurchase program by $50 million. This increase brings the total amount authorized for repurchases to $130 million since the program began, with $61 million available for future share repurchases as of March 25.

Metro Mining Doubles Bauxite Hill Resource

Mining Weekly reported that Metro Mining Ltd. (FWB:6ME) has more than doubled the direct shipping ore (DSO) inferred resource at its Bauxite Hill resource.

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Market News

Alcoa Calling for 2015 Aluminum Surplus

Bloomberg reported that Alcoa Inc. (NYSE:AA) is calling for an aluminum surplus in 2015 due to slow global consumption and increased Chinese output.

US Aluminum Price-fixing Lawsuit Gets Green Light From Judge

Reuters reported Thursday that a US judge has given metal purchasers the go ahead to pursue claims against Wall Street banks and commodity merchants for allegedly conspiring to drive up aluminum prices by reducing supply.

Indonesian Alumina Refinery Starts Operating

Mining Weekly reported that Indonesia’s first alumina refinery has started commercial operations, with plans to export most of its output to Japan.

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