Glencore Acquired A 3.03% Stake In The Alunorte Alumina Refinery

Companhia Brasileira de Alumínio Has sold its 3.03% stake in the Brazilian Alunorte alumina refinery to Glencore at a price of 237 million reaals.

Once the transaction is completed. Companhia Brasileira de Alumínio will no longer enjoy the corresponding proportion of the alumina production obtained by holding Alunorte shares, and will not sell the remaining alumina related to the purchase agreement.

The Alunorte refinery in Bakarena, Para state, was established in 1995 with an annual capacity of 6 million tons and is majority owned by Norwegian Hydro.

The latest stake between Hydro and Glencore has not been disclosed.