Alumina Limited
(ASX:AWC) says its 40 per cent owned business Alcoa is committed to lowering costs and will conduct a 12 month strategic review of its smelting and refining capacities.
Alcoa intends to consider a wide range of actions for its global facilities across system including partial and full plant curtailments or shutdowns. Some plants may be sold however Alcoa says it will only do so in consultation with stakeholders.
Alumina recently swung from a profit to a net loss for the 2014 financial year in the face of restructuring of its portfolio and the sale of its Jamaican refinery.
Alumina reported a net loss of $120 million for the full year ended 31 December 2014.
