Noranda reports loss in bauxite segment for second quarter 2015

Noranda Aluminum Holding Corporation today reported results for second quarter 2015 on July 23, 2015.

Bauxite segment reported a $3.1 million loss in second quarter 2015, a $2.1 million profit in first quarter 2015, and a $1.3 million loss in second quarter 2014.

• Sequentially, Bauxite results primarily reflect the additional bauxite production levy of $5.9 million which resulted from an interim agreement with the GOJ related to the production levy dispute referenced above, partially offset by lower demurrage fees as a result of the completion of the port expansion project at the beginning of the second quarter of 2015.
• Year-over year, Bauxite results reflect the additional bauxite production levy of $5.9 million partially offset by lower fuel costs ($2.5 million), currency benefit ($0.9 million) and lower demurrage fees. Of the $5.9 million increase in the bauxite production levy, $3.0 million was related to shipments in the first quarter of 2015 due to the retroactive increase of the levy under the interim agreement.

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