Ormet plans to sell more amount of calcined alumina to Trafigura

As Ormet has decided to wind down the company’s aluminum business based in US, it is seeking the permission of federal bankruptcy court to sell 24,000 mt of calcined metallurgical-grade alumina to Trafigura, the Swiss commodities trader for about $6 million.

On Wednesday, Ormet told US Bankruptcy Court that they would sell alumina from the remaining inventory at Burnside refinery with a capacity of 540,000 mt/year located in Louisiana.

The Burnside smelter was sold to one of the subsidiaries of Germany's Almatis GmbH for a sum of $39.5 mn this year beginning.

Any objections against the proposed transaction with Trafigura, must be submitted to the court 31 March 4 pm, Ormet said.

If no responses are filed with the court, Ormet said it then "will immediately submit a substantially similar version" of the proposed contract with Trafigura to the court.

Ormet also said that "time is of the essence" to close on sale.

If Judge Mary Walrath approves the deal, alumina would be loaded at St. James Terminal on Lower Mississippi River, onto an ocean-going vessel, Ormet said.

Last Novemeber, Ormet received a final approval from the court to sell 32,000 mt of sandy calcined metallurgical- alumina for around $8.5 mn to Trafigura.

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