Major mineral producers recently decided to work together for the next eight years.
US-headquartered Alcoa and Abu Dhabi-based Emirates Global Aluminium (EGA) confirmed they reached a new supply agreement.
Starting in the year 2024 Alcoa will provide smelter grade alumina to EGA until at least 2032. EGA can exercise volume options to procure up to 15.6 million metric tons of alumina from Western Australia.
“The agreement is the largest alumina supply contract ever signed between Alcoa and EGA,” Alcoa president and CEO Roy Harvey said in a public statement.
“Most of our alumina needs into the next decade are now secured by our own production and a long-term supplier in Alcoa that is aligned with our sustainability goals,” EGA CEO Abdulnasser Bin Kalban added.