ALUMINA has forecast increased production in 2007 after today reporting a 62 per cent rise in full-year earnings.
The bauxite miner, and aluminium refiner and smelter today reported an annual net profit for calender 2006 of $511.1 million, up from $315.6 million in 2005.
Alumina's sole asset is its 40 per cent stake in Alcoa World Alumina and Chemicals (AWAC), with Alcoa holding the remaining 60 per cent.
Alumina said today that AWAC's production this year will increase on improved performance from several of its refineries. But it also flagged an expected increase in costs.
Alumina said AWAC's operating costs are forecast to increase by about $US4.00 per tonne, due to higher average energy prices and bauxite and shipping costs.
Aluminium sales and production at Point Henry and Portland smelters are forecast to increase marginally in 2007, the company said.http://www.news.com.au/business/story/0,10166,21152583-462,00.html?from=public_rss
