Slovalco, the only primary aluminum producer in Slovakia with majority shares owned by Norsk Hydro, said that the rising energy prices made the company unable to afford the operating costs of its remaining 10 cells although it has been operating for 70 years.
Once the smelter is shut down, Europe and Slovakia will be forced to import aluminum from countries such as Russia or China, where aluminum production has more negative impacts on the environment.
Slovalco originally operated 226 cells, which were gradually reduced in production. In August last year, only 10 cells are left for operation.
The CEO said that the smelter will maintain a state with technology that can be restarted. However, the restart will cost the company several million euros per year, and the cost of the resumption of 226 cells was estimated at almost EUR 100 million.
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