Meanwhile, Nexa Resources, a unit of Votorantim, has just approved a $392 million capital expenditure in a zinc mining project in the Brazilian state of Mato Grosso.
Aluminium is a metal key for the transport and packaging industries but at current prices about 40% of the world's aluminium production is losing money.
Queensland state is set to unveil proposed resource regulations that will require miners to pay into an "insurance fund" for the remediation of old mines.
Companies in metals and mining have been hit especially hard amid concern that the rising trade frictions from the tariffs have helped crimp economic growth.