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WKN: 851908 ISIN: NO0005052605 Ticker-Symbol: NOH1 
Tradegate
14.08.20
21:57 Uhr
2,651 Euro
-0,078
-2,86 %
Branche
Versorger
Aktienmarkt
OBX 25
1-Jahres-Chart
NORSK HYDRO ASA Chart 1 Jahr
5-Tage-Chart
NORSK HYDRO ASA 5-Tage-Chart
RealtimeGeldBriefZeit
2,6432,66210:09
2,6522,67214.08.
GlobeNewswire (Europe)
465 Leser
Artikel bewerten:
(2)

Norsk Hydro: Federal Court lifts one of two embargos on Alunorte's deposit area DRS2

The Federal Court in Belém, Brazil, today, September 20, lifted the embargo on Alunortes new bauxite residue disposal (DRS2) under the civil lawsuit. Alunorte is still subject to an embargo on DRS2 imposed by the same court in a parallel criminal lawsuit, but Alunorte is expecting an extension of the civil decision to the criminal case shortly.

Alunorte will continue utilizing the old bauxite residue disposal area (DRS1) until the DRS2 embargo under the criminal case is lifted.

The decision to lift the DRS2 embargo in the civil case against Alunorte came after Ministério Público and Alunorte submitted a joint petition to the federal court on August 30, requesting the embargoes to be lifted.

"This is an important step towards resuming installation and commissioning activities of the solid residue deposit DRS2. It is a state-of-the-art deposit system, the only sustainable and long-term solution for Alunorte's operations. Alunorte is the foundation of the aluminium value chain in Para, and I appreciate the support we have received from our employees and local stakeholders", says John Thuestad, Executive Vice President of the Bauxite & Alumina business area in Hydro.

The Federal Court lifted Alunorte's production embargo on May 20, 2019, allowing the alumina refinery to ramp up its production from 50 percent towards normal levels. Alunorte is duly fulfilling the commitments agreed in the TAC (technical agreement) signed in September 2018 with Ministério Público, the State Government of Pará, represented by SEMAS, Alunorte and Hydro.

Internal and external reviews, including inspections by authorities, confirmed that there was no overflow of Alunorte's bauxite residue deposits from the February 2018 rainfall.

Investor contact
Stian Hasle
+47 97736022
Stian.Hasle@hydro.com

Press contact
Øyvind Breivik
+47 40226686
Oyvind.Breivik@hydro.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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© 2019 GlobeNewswire (Europe)
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