OSLO, Norway, April 1, 2014 (GLOBE NEWSWIRE) -- The Pará State Environmental Secreteriate (SEMA) has suspended Alunorte's environmental operational license for loading of alumina at its port, Vila do Conde, with effect as of 1 April 2014. This results in the suspension of all loading of alumina with immediate effect. The production of alumina at Alunorte continues unaffected.
SEMA argues that Alunorte has not fulfilled one of the conditions under the license, which is to present a plan to reduce emissions of alumina dust in the port loading operation. Alunorte believes it is already using one of the best available technologies for alumina loading and disagrees with SEMA's understanding that the license condition is not fulfilled.
Alunorte will continue its dialogue with SEMA and expects that the matter will be resolved and that the loading of alumina will resume without affecting production.
Alunorte has a nameplate capacity of 6.3 million tonnes and is the world's largest alumina refinery.
Contact Pål Kildemo
Cellular +47 97096711
Contact Halvor Molland
Cellular +47 92979797
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.