An aluminum plant co-owned by Saudi Arabian Mining Co. with Alcoa Corp. cut production after running into operational problems, but is now resuming production, the company's chief executive said.
Maaden, the Gulf's largest mining company, took part of the potline offline after encountering quality control problems and hopes to stabilise the plant, chief executive Robert Welter said in an interview in Riyadh on Wednesday. He spoke of a "high anode effect", which reduces the grade of aluminium by inserting unnecessary impurities.
Chamberlain said no customers would be affected, but he declined to elaborate further. He did not say how much production had been affected.
"I don't expect it to affect our budget," Wilt said when asked about the financial impact of the smelter problem.
The setback comes as traders and investors watch for signs that China's easing of COVID-19 restrictions will boost demand for metals. At the same time, aluminium production outside China has been constrained after European smelters cut capacity due to high energy prices, with exchange inventories near multi-decade lows.
Saudi Arabia's vast aluminium complex, which includes smelters, mines, alumina refineries and rolling mills, is 75 percent owned by Maaden and 25 percent by Alcoa.
