The US Bankruptcy Court approved the sale of assets of Noranda Aluminum, Inc. on October 21, 2016. As per the order, debtor has been authorized to sell Gramercy assets and St. Ann assets to New Day Aluminum LLC, stalking-horse bidder for $24.43 million, as per the amended agreement dated October 19, 2016. ARG International AG has been designated as back-up bidder with a purchase price of $24 million.