The research house said Press Metal had locked in most of its alumina requirement for 2018 based on the formula tied to the LME spot price movement with aluminium prices for a portion of its 2018 sales volume unhedged.
PETALING JAYA: Press Metal
Aluminium Holdings Bhd is buying a 50% stake in a company that holds a 10% interest in the Worsley Alumina project, as the local smelter seeks to secure long-term access to the key raw material.
In a filing with Bursa Malaysia, the company said 80%-owned subsidiary, Press Metal Bintulu Sdn Bhd, has proposed to acquire a 50% equity interest in Japan Alumina Associates (Australia) Pty Ltd (JAA) for A$250mil (RM739mil).
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