Venezuela's CVG Venalum says Nov aluminum production down 20% from a year ago, up 3% from Oct

Venezuela's CVG Venalum primary aluminum production totaled 8,271 mt in November, down 20% on output of 10,348 mt in November 2013, Venalum said Tuesday.

November production was up 3%, however, on output of 8,019 mt for October.

The latest Venalum cell count (mid-December) was 218, down four since October's official count of 222. The count continues to slide and officials are hoping that the $498 million contract signed several years ago with China's Chalieco, a subsidiary of the Aluminum Corporation of China, will make a positive difference starting in mid-January 2015.

Beside cell reactivation, the project includes modernization of three other units at the Puerto Ordaz-based plant, but the foundry is first.

The first tranche of $100 million is expected sometime between now and January 15. The bi-national $5 billion China Venezuela Fund is its provenance.

The 430,000 mt/year capacity Venalum smelter forms part of the Corporacion Venezolana de Guayana's (CVG) 600,000 mt/year aluminum complex in Puerto Ordaz, Bolivar state.

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