Eurasian Natural Resources Corporation PLC (‘ENRC' or, together with its subsidiaries, the ‘Group') today announces that its Alumina and Aluminium Division has completed the expansion of its alumina refinery in Kazakhstan, Aluminium of Kazakhstan (‘AOK'). The refinery has successfully reached its target alumina production level of 1.7 million tonnes per annum.
Investment into alumina expansion has been one of the key initiatives of ENRC's Alumina and Aluminium Division and has been completed on time and within its budgeted capital expenditure of US$305m.
The larger alumina production capacity will support the Group's expanded aluminium production capacity. Importantly, this will also enable ENRC to maintain sales to third party customers and provide sufficient alumina for internal consumption.
The expansion of AOK comprises part of ENRC's on-going significant investment programme in Kazakhstan and Africa.
Felix J Vulis, CEO of ENRC, commented: "I am delighted to announce completion of this important expansion project in Kazakhstan. We are now able to increase both our internal consumption and external sales of alumina, underpinning ENRC's ability to maintain competitive advantage as a low-cost producer."
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