Alcoa Receives Approval For Continued Mining In Western Australia, Commits To Enhanced Environmental Practices
Portfolio Pulse from Benzinga Newsdesk
Alcoa Corporation (NYSE:AA) has received approval from the Western Australian Government to continue bauxite mining and alumina refining. The approval includes Alcoa's 2023-2027 Mining and Management Program for the Huntly and Willowdale mines. Additionally, the government granted an exemption for Alcoa to continue operations during any separate environmental impact assessments by the WA Environmental Protection Authority, expected by year end.
December 14, 2023 | 7:16 am
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Alcoa Corporation has been granted approval to continue its mining operations in Western Australia, which is likely to ensure the continuation of its bauxite mining and alumina refining activities in the region.
The approval from the Western Australian Government is a significant positive development for Alcoa, as it ensures the company can maintain its mining operations in the region. This continuity is crucial for Alcoa's production and revenue stream from these mines. The exemption to continue operations during any environmental assessments also reduces the risk of operational disruptions. The news is likely to be viewed positively by investors and could lead to a short-term uptick in Alcoa's stock price.
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