Alcoa Welcomes Decisions That Support Western Australian Operations
December 13 2023 - 9:19PM
Business Wire
Alcoa Corporation (NYSE: AA) today welcomed decisions from the
Western Australian (WA) Government that will allow the Company to
continue bauxite mining and downstream alumina refining in the
State, while also pledging to enhance the way it operates to meet
evolving requirements and expectations.
The government has announced that it will approve Alcoa’s latest
five-year mine plan – known as the 2023-2027 Mining and Management
Program (MMP) – for its Huntly and Willowdale bauxite mines.
In addition, the government has granted an exemption that will
allow Alcoa to continue its mining operations if the WA
Environmental Protection Authority (EPA) decides to undertake a
separate environmental impact assessment on all or parts of the
MMP. The EPA’s determination is expected by year end.
Alcoa will be subject to a range of stringent conditions
addressing key environmental factors that will include enhanced
protections for drinking water, including increased distances from
reservoirs, and biodiversity along with accelerated forest
rehabilitation. At the request of the State, the Company will also
provide a A$100 million (approx. US$66 million) guarantee,
demonstrating Alcoa’s confidence that its operations will not
impair drinking water supplies. Clearing for mining in the Northern
Jarrah Forest will be capped at 800 hectares per year and the
current rate of rehabilitation will double to reach 1,000 hectares
per year by 2027.
Separately, Alcoa has committed to work with the WA Government
to modernize the State Agreements and the approvals framework for
its two bauxite mines and three alumina refineries in the State.
This includes transitioning all proposed new major mining regions
to the more contemporary EPA assessment and approvals process.
Alcoa started this process in 2020, when it referred its next two
proposed mine regions (Myara North and Holyoake) for EPA
assessment.
These commitments are in addition to Alcoa’s earlier decisions
to forgo mining around the forest towns of Dwellingup and
Jarrahdale to enhance protections for lifestyle and recreation
values.
Matt Reed, Alcoa Vice President Operations for Australia, said
the decisions provided a balance between protecting local jobs and
businesses while enhancing environmental protections.
“We are absolutely focused on operating in line with these new
requirements and evolving community expectations,” Reed said. “They
mean we can continue to build on our 60 years of economic value
creation, employment, and community support in WA while
transitioning to more contemporary approvals.”
The new MMP will support mining at Alcoa’s current Myara and
Larego regions at its Huntly and Willowdale mines. It does not
affect the EPA environmental impact assessment already underway for
Myara North and Holyoake, the two proposed new mine regions. That
assessment is continuing with mining in these new regions not
expected to occur any earlier than 2027. Until then, Alcoa expects
bauxite quality to be similar to recently reduced grades. Bauxite
quality at Myara North and Holyoake is expected to be consistent
with historic higher grades.
About Alcoa Corporation
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina
and aluminum products with a vision to reinvent the aluminum
industry for a sustainable future. With a values-based approach
that encompasses integrity, operating excellence, care for people
and courageous leadership, our purpose is to Turn Raw Potential
into Real Progress. Since developing the process that made aluminum
an affordable and vital part of modern life, our talented Alcoans
have developed breakthrough innovations and best practices that
have led to greater efficiency, safety, sustainability and stronger
communities wherever we operate.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company
developments and financial performance through its website,
www.alcoa.com, as well as through press releases, filings with the
Securities and Exchange Commission, conference calls and webcasts.
The Company does not incorporate the information contained on, or
accessible through, its corporate website into this press
release.
Forward-Looking Statements
This press release contains statements that relate to future
events and expectations, and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those
containing such words as “aim,” “ambition,” “anticipates,”
“believes,” “could,” “develop,” “endeavors,” “estimates,”
“expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,”
“plans,” “potential,” “projects,” “reach,” “seeks,” “sees,”
“should,” “targets,” “will,” “working,” “would,” or other words of
similar meaning. All statements by Alcoa Corporation that reflect
expectations, assumptions or projections about the future, other
than statements of historical fact, are forward-looking statements.
Forward-looking statements are not guarantees of future performance
and are subject to known and unknown risks, uncertainties, and
changes in circumstances that are difficult to predict. Although
Alcoa Corporation believes that the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
can give no assurance that these expectations will be attained, and
it is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties. Additional information concerning factors
that could cause actual results to differ materially from those
projected in the forward-looking statements is contained in Alcoa
Corporation’s filings with the Securities and Exchange Commission.
Alcoa Corporation disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable
law.
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Investor Contact: James Dwyer 412-992-5450
James.Dwyer@alcoa.com
Media Contact: Jim Beck 412-315-2909
James.Beck@alcoa.com
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