EPA Issues ROD to Alcoa - Analyst Blog
April 08 2013 - 7:00AM
Zacks
Aluminum giant Alcoa Inc. (AA) announced that
the U.S. Environmental Protection Agency (USEPA) has issued a
Record of Decision (ROD) relating to the remediation of the Grasse
River. This is in sync with the Proposed Remedial Action Plan
issued in Oct 2012.
Alcoa, USEPA, the NY Department of Environmental Conservation (DEC)
and other parties have been looking for various remedial measures
to address the problem of high levels of polychlorinated biphenyls
(PCBs) in fish in the lower Grasse River for more than 15 years.
With the receipt of the ROD, Alcoa will have to dredge contaminated
sediments in a 7.2 mile stretch of river.
Alcoa has already accrued around $243 million, which is expected to
be incurred for the remediation. Alcoa believes that the remedy
will be safe for both human health and also the environment.
Alcoa is now ready to move into the next phase of modernizing its
Massena, N.Y. operations. The next step of modernization will
include on site work and support projects for the construction of a
new pot line at the location’s Massena East plant. By upgrading the
operations, Alcoa will be able to cut down its costs and move down
the aluminum cost curve. Alcoa plans to invest $52 million toward
modernization including $10 million for economic development.
Alcoa is the among the world leader with respect to production
and management of primary aluminum, fabricated aluminum, and
alumina as well as the world’s largest miner of bauxite and refiner
of alumina.
Last month, Alcoa was recognized by the Fortune magazine as the
“most admired” metals company in the world for the second time in a
row. The most admired list of Fortune is based on the surveys
conducted by executives, directors and analysts who rate companies
in their own industry. Out of the nine parameters that are required
for the recognition, Alcoa topped in seven of them.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
Other companies in the mining industry with favorable Zacks Rank
are Atlatsa Resources Corporation (ATL),
Sandstorm Gold Ltd. (SAND) and Anglo
American Platinum Ltd. (AGPPY). All of them hold a Zacks
Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ANGLO AMER PLAT (AGPPY): Get Free Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
SANDSTORM GOLD (SAND): Get Free Report
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