Alcoa and Rio Tinto announced the launching of Elysis, a joint venture company whose goal is to push towards commercial production a newly discovered, carbon-free aluminum smelting process.
The smelter, which produces some 430,000 metric tonnes of aluminum annually, has been operating at reduced capacity by non-union workers since Jan. 11.
By extending the sanctions deadline to Oct. 23, 2018, the Treasury Department has given Rusal and the aluminium market some much needed breathing space.