The global aluminum industry is witnessing a major shift, as Emirates Global Aluminium (EGA) and Alcoa sign an 8-year landmark supply agreement, commencing in 2024.
Alcoa’s Position in the Global Market
Standing tall as a global powerhouse in the alumina business, Alcoa is set to be EGA’s largest third-party supplier. As this partnership unrolls, Alcoa will cater to a substantial chunk of its annual third-party alumina sales to EGA, affirming its dominance in the market. Roy Harvey, Alcoa’s esteemed President and CEO, expressed immense pride, remarking, “This agreement with EGA is not just monumental in volume, but also a testament to our leading global position and our commitment to low-carbon processes.”
EGA’s Footprint in the Aluminum Industry
Not to be overshadowed, EGA is a titan in its own right. Beyond the realms of oil and gas, EGA emerges as the largest industrial company in the United Arab Emirates. With expansive operations, including smelters in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine in Guinea, EGA’s presence is palpable. As Abdulnasser Bin Kalban, EGA’s Chief Executive Officer, emphasizes, “The agreement with Alcoa ensures not only our alumina supply for the next decade but also aligns seamlessly with our ambitious sustainability goals, further bolstering EGA’s growth trajectory.”
The Environmental Edge: EcoSource Alumina
The collaboration doesn’t merely cater to the demands of the industry; it speaks volumes for the environment. A noteworthy mention is Alcoa’s EcoSource™ alumina, a pioneering low-carbon product in the aluminum sector. With an impressive metric of no more than 0.6 tons of CO2e per ton of alumina, EcoSource™ stands out, especially when compared to the industry’s average of 1.2 tons of CO2e. This is a testament to Alcoa’s dedication to reducing both direct and indirect emissions in the bauxite mining and alumina refining processes.
The EGA-Alcoa agreement is not just a business contract; it’s a commitment to a sustainable future. By embracing low-carbon solutions like EcoSource™ alumina, the duo showcases the aluminum industry’s potential for both growth and environmental responsibility.