Completing the acquisition of Vale's aluminium assets transforms Hydro into one of the largest producers and suppliers of alumina
The acquisition increases our ownership in Alunorte, the world's largest alumina refinery and one of the most cost effective, from 34 percent to 91 percent. It gives us control over one of the largest bauxite mines, through a 60 percent ownership in the Paragominas mine with a commitment to increase our interest to 100 percent by 2015. The acquisition raises our ownership interest from 20 percent to 81 percent in Companhia de Alumina do Para (CAP), an alumina refinery under development that will be supplied with bauxite from the Paragominas mine. It also gives us 51 percent of the Albras aluminium smelter.