Al smelter

ALCAN, the Canadian aluminium producer, said it hoped to reach an energy agreement with South African utility company, Eskom, before its third quarter earnings announcement on October 31, said Business Report citing Alcan spokesman, Alexander Christen.

"We are almost there," said Christen. The energy agreement is an important precursor to developing a $2.7bn aluminium smelter in South Africa's Coega harbour, located in the eastern Cape province.

"The contract could be signed in October and the worse case is November. We are at the tail end of negotiations," said Fani Zulu, Eskom spokesman. The Coega smelter is expected to produce 700,000 tons/year, said Business Report.