"The Hillside Aluminium 15-year lease agreement is facilitated through a process stipulated in Section 79 (1) of the National Ports Act No 12 of 2005, which empowers TNPA to control land use within the port in alignment with the Port Development Framework Plan (PDFP)," said the company.
TNPA stated that the premises are designated for commercial and industrial use, aligning with strategic development goals. South32 Hillside Aluminium is vital in supporting local downstream manufacturing of aluminium products for domestic and industrial markets. Additionally, the smelter contributes to stabilising the Eskom electricity grid.
Dennis Mqadi, the port manager at the Port of Richards Bay, said, "The Port of Richards Bay is also dedicated to fostering economic activity that creates and retains jobs in our communities. This partnership does not only secure the future of Hillside Aluminium, but also reinforces the Ports Authority's commitment to optimising port infrastructure and capacity."
Calvin Mkhabela, the vice president of operations at South32 South Africa, added, “We are excited about this new chapter in our relationship with TNPA. This lease agreement allows us to continue our operations seamlessly and contribute to the economic vitality of the region."
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
