Aluminum trades undergo major shift

Ameinfo reported that Saudi Arabian Mining Company is to launch the financing for the Phase II of its USD 10.8 billion aluminium project in the Q1 of 2011 following the conclusion of funding for the Phase I of the project in late 2010.

The Phase II will include a bauxite mine and an alumina refinery and is expected to cost up to USD 4bn. Phase I included an aluminium smelter and a rolling mill. The project is JV of Maaden and the US based Alcoa.

（Sourced from www.ameinfo.com）