Alumina (ASX:AWC) says Alcoa Corp’s quarterly earnings release with adjustments to the EBITDA due to increase in shipments due to higher tonnes produced.
Alcoa operates the largest integrated bauxite mining, alumina refining and aluminium smelting system.
Alumina Limited’s CEO, Mike Ferraro, says a $9 a tonne drop in the cost of alumina production also contributed to an Adjusted EBITDA for the Alumina Segment of $683 million. Compared to $660 million at the same corresponding period last year.
Bauxite sales saw an improvement primarily due to higher sales to both internal and third party customers partially offset by slightly higher energy costs.
Shares in Alumina (ASX:AWC) are trading 3.49 per cent higher at $2.37.