Alcoa 2003 Annual Report Download - page 16

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(Top) License plate in Reydarfjordur,
Iceland shows popular support for our
new smelter project.
(Middle) Expansion has begun on
AWAC’s alumina refinery in Suriname.
(Bottom) Ingots ready for shipment in
Poços de Caldas, Brazil.
(Left) Glenford Morais on site at the
recently expanded Clarendon, Jamaica
alumina refinery.
Our strategy is clear: continue our position as the world’s
foremost producer; strengthen and expand our base; continue
to lower our costs; and build for the future.
Not a day goes by where we do not make progress
on one, if not all, of these fronts. In alumina, AWAC
is expanding and upgrading operations across the world.
Having just completed the 250,000-mtpy expansion at
our refinery in Clarendon, Jamaica, we broke ground on
another 250,000-mtpy expansion in Suriname. And we
have begun a 600,000-mtpy efficiency upgrade plan for
Pinjarra in Western Australia. Through our various owner-
ship stakes, that amounts to 860,000 metric tons per
year of additional, low-cost alumina capacity.
Because of the lead times necessary to build or expand
a smelter, along with our stringent sustainability and capital
outlay criteria, we are in various stages on a number of
expansion programs.
Our smelting opportunities are vast: a new greenfield
smelter in Iceland scheduled to begin production in 2007;
expansion projects in Québec and Brazil; finalizing
the Pingguo joint venture in China; a memorandum of
understanding to acquire a 26% stake in Alba in
Bahrain; and a feasibility study to construct a smelter
in Brunei… and we continued to invest in power
opportunities – the underpinning of smelting –
in Rockdale (TX) and Brazil.
Aluminum&A
14