Norwegian aluminium producer Hydro said it has signed a memorandum of understanding with Australian mining company United Minerals Corporation (UMC) to explore the possibility of bauxite mining and alumina refining in the Kimberly region in Western Australia.
A final agreement would give Hydro a 75% holding in a potential bauxite and alumina project, “in line with Hydro’s strategy to grow in primary aluminium production and raise its equity coverage of the key raw material alumina.”
The work to determine the potential bauxite reserves and possible pursuit of additional reserves in the Kimberly region will begin in the upcoming dry season, starting in July.
Hydro already operates the Kurri Kurri primary aluminium plant in New South Wales in Australia, with a 2006 production of 164,000t. It also has a minority participation in the Tomago smelter, also in New South Wales.
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