IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Brazil’s aluminum output in March went up 3.7% to 125,000 tonnes, according to the national aluminum association, Abal.
Production totaled 364,100 tons in the first quarter of this year, up 2.7% compared to the same period of 2011.
CBA, part of Brazilian conglomerate Votorantim, increased production 16.3% to 38,600 tons in March and 13.4% to 113,300t in the first three months.
Rio Tinto’s (NYSE:RIO) aluminum output fell by 9%, mainly as a result of its decision to lock out employees at a smelter in Quebec, Canada.
BHP Billiton’s (NYSE: BHP) production was down 2.7% to 14,300 tonnes in March and 4.9% to 41,000t in the first three months.
Alcoa’s (NYSE:AA) output declined 0.7% to 29,100 tonnes in March and 2.8% to 83,800t in January-March.
Albras reported a decrease of 0.5% to 39,000 tonnes in March and increase 1.0% to 114,600t in January-March.
Novelis’ (NYSE: NVL) output fell 2.4% to 4,000 tonnes in March and 5% to 11,400t in January-March.
