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DAM-L LS: Noranda Files Alumysa EIS - Chile (fwd)
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Date: Thu, 30 Aug 2001 09:36:04 -0700
To: irn-biobio@netvista.net
From: Monti Aguirre <monti@irn.org>
Subject: LS: Noranda Files Alumysa EIS - Chile
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Thu, 30 Aug 2001 09:21:02
Noranda Files Alumysa EIS - Chile
(BNamericas.com) - Canadian mining and metals company Noranda (NYSE: NRD)
has filed an Environmental Impact Study (EIS) for its Alumysa aluminum
project in southern Chile, it said yesterday.
The project, expected to require total investment of US$2.75bn, is due to
produce approximately 440,000tpy aluminum.
Alumysa would be located near Puerto Chacabuco in Chile's Region XI, and
estimates 758MW power needs supplied by three hydroelectric plants, as well
as 79km of transmission lines, 45km of new roads and 40km of road upgrades.
The EIS, which took more than two years to complete, is expected to take
six to nine months to be approved by regional environmental regulator
Corema. After that, investment partners must be secured, followed by board
approval of a revised feasibility study.
Noranda's public affairs manager Dale Coffin told BNamericas.com the
company still does not know when construction - forecast to take four to
five years - would start. But he said partners would be sought for both the
aluminum and energy aspects of Alumysa, a project that has been in the
pipeline for several years.
Of the total investment, US$1.75bn would go to the aluminum reduction plant
and port, US$930mn to the hydro plants and US$70mn to transmission lines,
according to Noranda estimates.
Coffin said one of the issues to be addressed in the EIS approval process
is the question of how Alumysa could impact salmon farming in the area,
while others have expressed concern about its potential effect on tourism.
The plant could almost double Noranda's current aluminum production
capacity of 240,000tpy, depending on the final partnership arrangements.
Alumysa general manager Robert Biehl said the raw materials for producing
the aluminum, all of which will be exported, could come from Australia,
Jamaica or Brazil. Despite the distance that materials would have to be
transported, Noranda chose southern Chile as the project location because
of its low power costs, crucial in aluminum production.
Business News Americas (BNamericas.com)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Monti Aguirre
Latin American Campaigns
International Rivers Network
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