Alcoa and IGNIS EQT Form Joint Venture to Support Alcoa San Ciprián Complex

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Alcoa will own a 75 percent interest in the joint venture, while IGNIS EQT will own a 25 percent interest. The joint venture aims to facilitate the planned restart of the San Ciprián smelter in 2025, which was previously curtailed in 2021 due to high energy costs. The agreement leverages Alcoa's operational expertise and IGNIS EQT's energy market knowledge. The joint venture will also focus on ensuring stable and sustainable operations of the complex.

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About Alcoa Corporation

Alcoa Corporation is a premier global producer of aluminum, a key metal used extensively across various industries such as automotive, aerospace, construction, and packaging. Alcoa’s operations encompass the production of bauxite, mining, refining alumina, and the smelting and processing of aluminum products. Headquartered in Pittsburgh, Pennsylvania, Alcoa is known for its comprehensive supply chain management within the industry, contributing to its efficiency and competitive edge. The company holds a significant role in advancing sustainable practices in metal production, targeting reduced carbon emissions and increased recycling efforts. Innovations by Alcoa in aluminum solutions have made it pivotal in lightweighting applications, particularly in automotive and aerospace sectors, where reducing weight enhances fuel efficiency and performance. As one of the world's largest and most recognized aluminum companies, Alcoa Corporation contributes to global manufacturing capabilities, making it an integral player in both the primary and fabricated aluminum markets.