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Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

40.82NOK
23 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Norsk Hydro expands capacity in Slovakia and Spain
Tuesday, 9 Oct 2018 

Oct 9 (Reuters) - Norsk Hydro ASA ::EXPANDS REMELT OPERATIONS AT ITS SLOVALCO ALUMINIUM PLANT IN SLOVAKIA.EXPECTED TOTAL INVESTMENT FOR THE NEW FURNACE IS EUR 13 MILLION. THE FINAL BUILD DECISION IS EXPECTED Q1 2019.SLOVALCO TODAY PRODUCES ABOUT 174,000 TONNES OF PRIMARY ALUMINIUM PER YEAR. WITH THE COMING UPGRADE OF THE PLANT TO ALSO FUNCTION AS A REMELTER, THE PLANT WILL BE ABLE TO REMELT A TOTAL 50,000 TONNES OF CLEAN PROCESS SCRAP.AN ADDITIONAL 4,000 TONNES WILL BE REMELTED THROUGH EXISTING HOLDING FURNACES.INVESTING IN ITS REMELTING FACILITY IN AZUQUECA, SPAIN, TO INCREASE PRODUCTION OF THE RECYCLED ALUMINIUM PRODUCT HYDRO 75R.  Full Article

Norsk Hydro Says Alunorte To Resume Production At Half Capacity
Tuesday, 9 Oct 2018 

Oct 8 (Reuters) - Norsk Hydro ASA ::REG-NORSK HYDRO: ALUNORTE TO RESUME PRODUCTION AT HALF CAPACITY.NORSK HYDRO - ALUNORTE ALUMINA AGREED WITH ENVIRONMENTAL AGENCY OF STATE OF PARÁ, SEMAS, TO RESUME PRODUCTION AT 50 PERCENT CAPACITY UNDER SEMAS' SUPERVISION.NORSK HYDRO - ALUNORTE IS EXPECTED TO BE ABLE TO RAMP UP TO 50 PERCENT PRODUCTION WITHIN TWO WEEKS.NORSK HYDRO - HYDRO CONTINUES DIALOG WITH ALL RELEVANT AUTHORITIES TO BRING ALUNORTE BACK TO FULL PRODUCTION AND NORMALIZE ITS OPERATIONS IN BRAZIL.  Full Article

Hydro CEO to says 4,700 workers affected by plant, mine closure
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - NORSK HYDRO CEO SVEIN RICHARD BRANDTZAEG TOLD A CONFERENCE CALL ON WEDNESDAY::ABOUT 1,700 PEOPLE DIRECTLY AFFECTED BY PARAGOMINAS MINE SHUTDOWN.ABOUT 3,000 PEOPLE TO BE DIRECTLY AFFECTED AT ALUNORTE PLANT WHEN IT SHUTS.STILL IMPOSSIBLE TO GIVE A TIMELINE FOR WHEN ALUNORTE COULD RESTART PRODUCTION.  Full Article

Norsk Hydro to shut all output from Alunorte alumina refinery in Brazil
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - Norsk Hydro ASA ::NORSK HYDRO: ALUNORTE ANNOUNCES FULL CURTAILMENT OF ITS OPERATIONS.DECISION WAS TAKEN AS BAUXITE RESIDUE DEPOSIT AREA 1 (DRS1) IS CLOSE TO REACHING ITS CAPACITY, DUE TO EMBARGO ON STATE-OF--ART PRESS FILTER AND NEWLY DEVELOPED BAUXITE RESIDUE DEPOSIT AREA.ALUNORTE HAS BEEN RUNNING AT 50% PRODUCTION SINCE MARCH, FOLLOWING EMBARGOS FROM BRAZILIAN AUTHORITIES.EMBARGOS HAVE PREVENTED ALUNORTE FROM UTILIZING NEWEST BAUXITE RESIDUE DEPOSIT AREA (DRS2).ALUNORTE HAS SINCE EMBARGO MADE EFFORTS TOWARDS AUTHORITIES FOR PERMISSION TO UTILIZE PRESS FILTER, AS WELL AS DRS2, WITHOUT SUCCESS.DRS1 IS APPROACHING ITS END OF LIFE FASTER THAN ANTICIPATED, FORCING ALUNORTE TO TAKE RESPONSIBLE DECISION TO TEMPORARILY SHUT DOWN 100% OF ITS OPERATIONS.BOTH ALUNORTE AND PARAGOMINAS HAVE INITIATED SHUTDOWN PROCESS SAFELY.THIS WILL HAVE IMMEDIATE EFFECT ON BAUXITE MINE PARAGOMINAS, WHICH WILL ALSO SHUT DOWN 100% OF OPERATIONS.DECISION TO CLOSE ALUNORTE AND PARAGOMINAS WILL HAVE SIGNIFICANT OPERATIONAL AND FINANCIAL CONSEQUENCES, POTENTIALLY ALSO FOR HYDRO'S PRIMARY ALUMINIUM PORTFOLIO, INCLUDING ALBRAS.WE WILL CONTINUE TO WORK CONSTRUCTIVELY WITH AUTHORITIES TO LIFT EMBARGO AND TO RESUME OPERATIONS IN ORDER TO RE-ESTABLISH ALUNORTE AS WORLD'S LEADING ALUMINA REFINERY.SHARES FALL 5 PERCENT AFTER ALUNORTE SHUTDOWN.  Full Article

Norsk Hydro says timing of Alunorte restart depends on court
Thursday, 6 Sep 2018 

Sept 6 (Reuters) - Norsk Hydro ASA ::NORSK HYDRO CEO SAYS RESUMPTION OF FULL OUTPUT AT ALUNORTE REFINERY IS STILL UNCERTAIN.NORSK HYDRO CEO SAYS NEXT STEP IS TO GO BACK TO COURT FOR GO-AHEAD, UNCLEAR IF IT WILL BE WEEKS OR MONTHS.NORSK HYDRO SAYS WOULD TAKE 3 TO 4 WEEKS FROM GO-AHEAD TO RETURN TO FULL OUTPUT AT ALUNORTE REFINERY.NORSK HYDRO CEO SAYS HIS IMPRESSION IS THAT LOCAL AUTHORITIES IN BRAZIL ARE "VERY MOTIVATED" TO NORMALISE ACTIVITIES AT ALUNORTE.NORSK HYDRO CEO SAYS DECISION IS NOW UP TO THE COURTS, DOESN'T KNOW HOW LONG IT WILL TAKE.NORSK HYDRO CEO SAYS LOOKING AT THE MARKET, THERE IS "ABSOLUTELY" SPACE FOR MORE ALUMINA SUPPLY.NORSK HYDRO CEO SAYS, ON STOPPAGE AT BRAZIL'S ALBRAS PLANT, IT WILL TAKE AT LEAST THREE MONTHS BEFORE BEING BACK TO NORMAL, DECISION NOT TAKEN YET.NORSK HYDRO SAYS PART OF THE COSTS OF THE DEALS CONCLUDED ON WEDNESDAY WILL BE CONSIDERED CAPITAL EXPENDITURE, DOES NOT SAY BY HOW MUCH.NORSK HYDRO SAYS NO FIXED DATE YET FOR NEXT COURT HEARING REGARDING ALUNORTE REFINERY.NORSK HYDRO CEO SAYS WE ARE NOT GOING TO TAKE DOWN ANY FURTHER PRODUCTION LINES AT ALUNORTE REFINERY.NORSK HYDRO CEO SAYS WE ARE PREPARING OURSELVES FOR FULL PRODUCTION.NORSK HYDRO SAYS ABOUT 260,000 TONNES PER MONTH WAS CURTAILED AT ALUNORTE REFINERY.  Full Article

Norsk Hydro Says Alunorte Signs Agreements With Government Of Pará And Ministério Público
Wednesday, 5 Sep 2018 

Sept 5 (Reuters) - Norsk Hydro ASA ::REG-NORSK HYDRO: ALUNORTE SIGNS AGREEMENTS WITH GOVERNMENT OF PARÁ AND MINISTÉRIO PÚBLICO.ON SEPTEMBER 5, ALUNORTE SIGNED 2 AGREEMENTS REPRESENTING A MILESTONE TO RESUME NORMAL OPERATIONS AT ALUMINA REFINERY IN PARÁ, BRAZIL.IN ADDITION, A SOCIAL TERM OF COMMITMENT HAS BEEN SIGNED BETWEEN ALUNORTE - ALUMINA DO NORTE DO BRASIL S.A, STATE GOVERNMENT OF PARÁ.ALUNORTE ESTIMATES THAT INVESTMENTS AND COSTS RELATED TO IMPROVEMENTS AND AUDITS DEFINED IN TAC ARE BRL 60 MILLION.NORSK HYDRO - ALUNORTE COMMITS TO INVEST UP TO BRL 150 MILLION IN PROJECTS SUPPORTING SUSTAINABLE URBAN DEVELOPMENT IN DEFINED COMMUNITIES NEARBY ALUNORTE.ACCORDING TO AGREEMENT ALUNORTE WILL ALSO PAY FINES RELATED TO EVENT OF FEBRUARY 2018 AND 2009 EVENT, TOTALING ABOUT BRL 33 MILLION.NORSK HYDRO -NEITHER OF AGREEMENTS SIGNED INCLUDE PROVISIONS OR ESTABLISHES A TIMELINE TO RESUME NORMAL OPERATIONS AT ALUMINA REFINERY IN PARÁ, BRAZIL.COMBINED INVESTMENTS, COSTS AND FINES ARE ESTIMATED AT BRL 160 MILLION , ALUNORTE WILL ALSO PRESENT A FINANCIAL GUARANTEE OF BRL 250 MILLION.  Full Article

Norsk Hydro's underlying Q2 EBIT in line, sees stronger aluminium deficit in 2018
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Norsk Hydro Asa ::WE SEE GLOBAL PRIMARY ALUMINIUM MARKET IN A STRONGER DEFICIT IN 2018.NORSK HYDRO Q2 REVENUES NOK 41,254 MILLION (REUTERS POLL NOK 40.1 BILLION).NORSK HYDRO Q2 UNDERLYING EBIT NOK 2,713 MILLION (REUTERS POLL NOK 2.72 BILLION).NORSK HYDRO Q2 UNDERLYING EBITDA NOK 4,586 MILLION (REUTERS POLL NOK 4.51 BILLION).MAINTAIN A GLOBAL PRIMARY ALUMINIUM DEMAND GROWTH OF 4-5 PERCENT IN 2018.MARKET UNCERTAINTY CONTINUE ON US TARIFFS, US SANCTIONS ON RUSAL AND BRAZIL SITUATION.WE ARE CONTINUING OUR DIALOGUE WITH BRAZILIAN AUTHORITIES, AIMING TO RESUME NORMAL OPERATION AT ALUNORTE AS SOON AS POSSIBLE.PROCESS TO RESOLVE SITUATION IN BRAZIL IS CHALLENGING AND HAS TAKEN LONGER THAN EXPECTED.WE HAVE IMPLEMENTED MEASURES THAT ENABLE ALUNORTE TO OPERATE SAFELY ALSO GOING FORWARD, BUT TIMING FOR RESUMING FULL PRODUCTION REMAINS UNCERTAIN.THE DURATION OF ALUNORTE CURTAILMENT IS UNCERTAIN, AS WELL AS THE OPERATIONAL AND FINANCIAL IMPACTS FOR HYDRO, DEPENDING, AMONGST OTHER THINGS, ON THE DEVELOPMENT OF THE MARKET PRICES FOR ALUMINUM, ALUMINA AND OTHER RAW MATERIALS.FINDINGS OF AN INTERNAL AND AN EXTERNAL TASK FORCE CONFIRM THAT THERE WAS NO OVERFLOW FROM THE BAUXITE RESIDUE DEPOSIT AREAS AS WELL AS NO INDICATION OR EVIDENCE OF CONTAMINATION TO NEARBY LOCAL COMMUNITIES FROM ALUNORTE AS A RESULT OF THE HEAVY RAINFALL.  Full Article

Norsk Hydro to buy power from Engie's wind farm in Norway
Monday, 2 Jul 2018 

July 2 (Reuters) - Norsk Hydro Asa ::SIGNS NEW LONG-TERM CONTRACT TO ACQUIRE POWER FROM A PLANNED TONSTAD VINDPARK AS, OWNED BY ENGIE, A FRENCH POWER UTILITY, AND SUSI PARTNERS, A SWISS INVESTMENT MANAGER.NORSK HYDRO WILL PURCHASE 100 PCT OF THE WIND FARM'S OUTPUT FROM 2020 TO 2045.THE WIND FARM IN SOUTHERN NORWAY WILL HAVE AN INSTALLED CAPACITY OF 208 MW AND AVERAGE ANNUAL OUTPUT OF 0.7 TWH.  Full Article

Norsk Hydro says Karmoey aluminium pilot project in full production
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Norsk Hydro ASA ::NORSK HYDRO: HYDRO'S TECHNOLOGY PILOT AT KARMØY IN FULL PRODUCTION.ALL 60 ELECTROLYSIS CELLS ARE NOW IN OPERATION AT KARMØY TECHNOLOGY PILOT, WHERE HYDRO AIMS TO INDUSTRIALIZE WORLD'S MOST CLIMATE AND ENERGY EFFICIENT ALUMINIUM ELECTROLYSIS TECHNOLOGY.FIRST CELL WAS STARTED IN JANUARY, WHILE LAST ONE WAS STARTED TUESDAY THIS WEEK.  Full Article

Norsk Hydro appoints Liselott Kilaas as board member
Wednesday, 23 May 2018 

May 23 (Reuters) - Norsk Hydro ASA ::CORPORATE ASSEMBLY IN NORSK HYDRO ASA ON WEDNESDAY MAY 23 ELECTED LISELOTT KILAAS AS NEW MEMBER OF HYDRO'S BOARD OF DIRECTORS FOR 2 YEARS.KILAAS REPLACES LIV MONICA BARGEM STUBHOLT, WHO HAS BEEN A MEMBER OF HYDRO BOARD OF DIRECTORS SINCE 2010.REMAINING 5 SHAREHOLDER ELECTED BOARD MEMBERS HAVE BEEN RE-ELECTED FOR A PERIOD OF 2 YEARS.  Full Article

COLUMN-Alumina squeeze hits already slowing global aluminium growth: Andy Home

LONDON, Oct 23 Global aluminium production growth has ground to a halt this year.