) announced that the U.S. Environmental Protection Agency (USEPA)
has issued a Record of Decision (ROD) relating to the remediation
of the Grasse River. This is in sync with the Proposed Remedial
Action Plan issued in Oct 2012.
Alcoa, USEPA, the NY Department of Environmental Conservation
(DEC) and other parties have been looking for various remedial
measures to address the problem of high levels of polychlorinated
biphenyls (PCBs) in fish in the lower Grasse River for more than
15 years. With the receipt of the ROD, Alcoa will have to dredge
contaminated sediments in a 7.2 mile stretch of river.
Alcoa has already accrued around $243 million, which is expected
to be incurred for the remediation. Alcoa believes that the
remedy will be safe for both human health and also the
Alcoa is now ready to move into the next phase of modernizing its
Massena, N.Y. operations. The next step of modernization will
include on site work and support projects for the construction of
a new pot line at the location's Massena East plant. By upgrading
the operations, Alcoa will be able to cut down its costs and move
down the aluminum cost curve. Alcoa plans to invest $52 million
toward modernization including $10 million for economic
Alcoa is the among the world leader with respect to production
and management of primary aluminum, fabricated aluminum, and
alumina as well as the world's largest miner of bauxite and
refiner of alumina.
Last month, Alcoa was recognized by the Fortune magazine as
the "most admired" metals company in the world for the second
time in a row. The most admired list of Fortune is based on the
surveys conducted by executives, directors and analysts who rate
companies in their own industry. Out of the nine parameters that
are required for the recognition, Alcoa topped in seven of
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
Other companies in the mining industry with favorable Zacks
Atlatsa Resources Corporation
Sandstorm Gold Ltd.
Anglo American Platinum Ltd.
). All of them hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
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ATLATSA RESRCS (ATL): Free Stock Analysis
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