Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Alcoa (NYSE:AA) will undertake the next phase of its five-year, $2.1 billion investment plan for its Baie-Comeau, Deschambault and Becancour smelters in Quebec.
“The plan will move the Quebec smelters down the aluminum cost curve by 13 percentage points and contribute to Alcoa’s goal of achieving an overall 10-point improvement. The plan will also increase production capacity by 120,000 metric tons per year and reduce greenhouse gas emissions,” said the company, which announced the approval on Monday.
Alcoa estimates that 6,800 job-years will be sustained during the construction, and there will be $500 million of economic spin offs for the region.
“As part of the modernization at Baie-Comeau, the older smelting pots using Soderberg technology will be replaced with an all-new electrolysis potline developed by Alcoa with an annual production capacity of 160,000 metric tons. These enhancements will reduce the plant’s greenhouse gas emissions by 40 percent,” says Alcoa.
