Alcan, Shell make asset deal

A deal with Royal Dutch/Shell will see Alcan Aluminum increase its interest to 33% in U.S.-based holding company Halco.

The latter owns 51% of bauxite producer Compagnie des Bauxites de Guinee in Guinea (CBG), West Africa.

Alcan intends to acquire Shell’s 6% interest in CBG. The government of Guinea owns the remaining 49% in CBG.

Alcan also says it will acquire Shell’s 35% interest in the Aughinish alumina refinery in Ireland, which will give Alcan whole ownership of the 1.1-million-tonne-per year facility.

Alcan supplies bauxite to Aughinish, to a refinery in Quebec and to third-party customers from its share of CBG ore.

Meanwhile, copper producer Rio Algom (TSE) has acquired a metals distribution business from an Alcan subsidiary.