Alcoa completes deal to acquire to BHP Billiton’s Suriname stake

05 Aug 2009

1

Alcoa, the world's third largest producer of aluminum behind Rio Tinto Alcan and Rusal of Russia, has completed its previously announced deal to acquire BHP Billiton's bauxite and alumina refining interests in Suriname.

In April, Alcoa had announced that Suriname Aluminum Company LLC (Suralco), an Alcoa subsidiary, would acquire the bauxite and alumina refining interests of NV BHP Billiton Maatschappij Suriname (BMS), a BHP Billiton subsidiary, in Suriname for an undisclosed sum.

Suralco and BMS have been participants in mining and refining joint ventures in Suriname since 1984. BMS had a 45-per cent interest and Suralco held 55 per cent interest in the joint ventures.

Prior to the establishment of the joint ventures, BMS had separately conducted mining operations in the country, while Suralco has been active in Suriname for almost 100 years.

Late in 2008, BHP Billiton informed the government of the Republic of Suriname that it had decided to discontinue its activities in Suriname by 2010.

Bauxite, the main source of aluminum is the third largest commodity of Suriname and accounted for 72 per cent of the country's estimated export earnings of $496.6 million in 2001.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers