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4-Traders Homepage  >  Equities  >  Nyse  >  Alcoa Inc    AA

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Alcoa Clinches 5-Year Extension For Wagerup Alumina In West Australia

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05/09/2012 | 06:57am CET

The Western Australian state government said Wednesday it has granted the Australian unit of Alcoa Inc. (>> Alcoa Inc.) a five-year extension for its proposed Wagerup alumina refinery expansion.

The approval, by Environment Minister Bill Marmion, follows the Environmental Protection Authority's recommendation in February that Alcoa be allowed to defer the start of construction under the terms of its 2006 approval.

"The EPA recommended that, as the environmental factors of the proposal had not significantly changed and no new factors had emerged since the initial approval, the time limit be extended a further five years," said Marmion in a statement.

However, before starting construction Alcoa will still require a works approval from the Western Australian state government, which would involve public consultation, he added.

Wagerup's expansion to 4.7 million tons a year has been deferred by Alcoa of Australia, owned 60% by Alcoa Inc. and 40% by Alumina Ltd. (>> Alumina Limited), until market conditions improve.

-By Stephen Bell, contributing to Dow Jones Newswires; 61-8-9244-4243; djsydney@dowjones.com

Stocks mentioned in the article : Alcoa Inc., Alumina Limited
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Financials ($)
Sales 2016 14 441 M
EBIT 2016 1 202 M
Net income 2016 -
Debt 2016 6 521 M
Yield 2016 1,68%
P/E ratio 2016 18,64
P/E ratio 2017 22,57
EV / Sales 2016 1,09x
EV / Sales 2017 1,26x
Capitalization 9 155 M
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Number of Analysts 7
Average target price 23,3 $
Spread / Average Target 12%
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NameTitle
Klaus-Christian Kleinfeld Chairman & Chief Executive Officer
Ken Giacobbe Chief Financial Officer & Executive Vice President
Raymond J. Kilmer Chief Technology Officer & EVP
Ratan Naval Tata Independent Director
Stanley Ernest O'Neal Independent Director
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Sector and Competitors
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HINDALCO INDUSTRIES LT..107.73%5 348
ALUMINA LIMITED49.35%3 717
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