The government will receive proposals from interested parties until the end of the year on how to expand production.
Aluminum Mining News
The reports come after U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau discussed the tariffs earlier on Friday.
The metal touted for its environmental benefits, particularly in the manufacture of lighter cars and trucks, has a big problem with storing its toxic by-products.
Three-month aluminium fell to $1,784 a tonne on Thursday, the lowest since January 2017.
The company says demand for its products had not been impacted by the US-China trade dispute.
The latest order aims to discourage foreign companies and countries that may still be trying to maintain business with Iran.
In April, Rusal landed a major equity and supply deal with Braidy Industries, which is building the first greenfield aluminium rolling mill in the United States in 37 years.
Base metals have had a shaky start to 2019, with a cautious Q1 advance giving way to an April drop on uncertainty about the global economy.
The new offering comes five years after a similar product fizzled on the Singapore Exchange (SGX).
Industrial metal markets are taking a breather as they await tangible evidence that China's latest stimulus package is feeding through to a flagging manufacturing sector.
The company's profits rose 46% year-on-year in the first quarter as aluminium prices stabilised and asset disposals swelled its bottom line.
A couple of long-running outages together with curtailments in Europe caused aluminium production outside China to dip 1.4%.
The metals trading startup benefited from the turmoil in aluminum and alumina markets following sanctions on Russian producer United Co. Rusal.
A problem has emerged in relation to the LME's "load-in and load-out" rules, which specify the tonnage that has to be shipped out when a queue to deliver metal is longer than 50 days.
Attempts to replace copper in a lithium-ion battery's anode with aluminum have failed so far, which bodes well for major copper miners.
The new facility should be fully functional in the second half of 2019. It also has the financial backing of the governments of Quebec and Canada.
Sunday's blast involved a container of scrap metal that exploded in the outdoor yard of a metal-molding plant.
Investors are benefiting from a panicked realization across the aluminum industry that the supply chain is fragile.
The refinery, the world's biggest, has been operating at half capacity since early 2018, when Hydro admitted it had made unlicensed emissions of untreated water.
The company couldn’t detail how much output had been impacted, but said the so-called potlines, which process molten aluminum and need to be kept running 24 hours a day, had switched to manual mode.
The company plans to appoint Hilde Merete Aasheim, who has been head of the company's Primary Metal unit since 2008, as its new CEO in May.
Output reached 1.34 million tonnes, the National Bureau of Statistics said on Friday.
Glencore has lodged a complaint with the LME for an ongoing dispute with the warehouse operator at Port Klang, Malaysia.
Miners wishing to resume operations or start new ones must conduct a study on the environmental impact of their activities before receiving licences.
For years, such enterprises have survived on bank loans and local government backing, robbing more deserving companies of financial resources that could have otherwise contributed to local growth.