US-based Alcoa says it will cut production, pursue sale to government of Suriname refinery

Markets Associated Press

Alcoa has announced plans to cut production at the Suralco alumina refinery in Suriname and to pursue a sale to the government of the South American country.

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Alcoa has operated in Suriname since 1916, when the country was known as Dutch Guiana. But the company said it has been reviewing its production capacity around the world.

Suralco, which U.S.-based Alcoa runs with Australia's Alumina Ltd., will cut production by 443,000 metric to less than 1 million tons a year following an earlier production cut. The company said in Wednesday's announcement that this will extend the life of the refinery while it negotiates the sale with the government.

The refinery and related mining operations are among the largest private employers in Suriname, with about 700 employees in addition to contract workers.