Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| But in addition to that, I think it's good for the stakeholders in the various communities |
| We think it will get done, and we're really pleased |
| So we'll be able to do really good things for the stakeholders and the community |
| It's going extremely well |
| So we feel good about where we got to at the end of 2023 |
| So my view is it gives us an opportunity to earn returns in the future in the upstream primary business |
| So that's going very well |
| And before I leave that, so it's good for Alumina Limited shareholders, it's good for Alcoa shareholders |
| The incremental tons are EBITDA positive |
| So if I were talking to Alumina Limited shareholders, this transaction is good for Alumina Limited shareholders for a number of reasons |
| It's also a good deal for the Alcoa shareholders |
| So in my view, it's a good deal for the Alumina Limited shareholders |
| So overall, we think it's a great transaction for both sets of shareholders |
| And so we have, in my view, very good line of sight to making that $300 million |
| So I think we're in good shape there |
| And it would be our ability to get in with a technological advantage that may allow us to generate excess returns in the industry |
| So we will be able to generate those synergies once the deal is completed |
| So that provides economic benefits and then there are benefits associated with improvements at San Ciprian, given that the San Ciprian situation is difficult to determine exactly where we will end, we did not quantify that in the near term |
| And this gives us the opportunity to do that |
| It's in line, maybe a little bit better than what we had anticipated |
| We did it in a way that was safe and efficient |
| So as we see greater penetration of electric vehicles, we'll see greater growth in aluminum |
| We continue to make progress |
| Does that help? Bill Oplinger A lower gas price helps the refinery and gas pricing has come down |
| And I think there will be growth opportunities, and this is not next month, it's not next quarter |
| And so we continue to make progress |
| This is the first step towards making Alcoa more competitive in the future |
| We have our own breakthrough technology called ASTRAEA which will take Twitch and convert that into high purity aluminum |
| But when you look at the growth of the primary aluminum business over the next 10 or 20 years, there will be opportunities for us to plant the flag on more bauxite and potentially grow in the refining business |
| If I then look into the next decade, and I know that's a long ways out, we've got three breakthrough technologies that will come into existence in the next decade |
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| And we think that -- well, if we step back, the returns in upstream aluminum have been very challenged over the last two decades |
| We had lost a good deal of the workforce after being curtailed for eight years and bringing in an entirely new workforce has meant that we've had to go slower than what we anticipated |
| The Alumar smelter had been down for, I believe, eight years |
| In that part of the world, if a plant doesn't have heat in it, it was in more of a state of deterioration than we had probably anticipated |
| The Warrick line that we're restarting had been down for maybe a year |
| Katja Jancic And then on San Ciprian, you mentioned it's been a challenge |
| Katja Jancic And maybe on the Alumar smelter restart, it had some issues in the past |
| I think we fundamentally underestimated three key components to the Alumar restart |
| So I don't want investors to be concerned that we're rushing out to a huge growth story |
| But we said, let's pause it for a little while and restart, delay the restart by a couple of weeks |
| Is there a risk that you will have to take incremental concessions for the new mining areas? Bill Oplinger I wouldn't rule out incremental concessions |
| The Chinese have committed to a $45 million metric ton cap which will limit their growth |
| market, we see the Midwest premium continues to drift lower and you're bringing incremental capacity |
| But we're really working against the fact that the cash flow is negative at this point |
| Katja Jancic Now the energy prices in Europe have been coming lower |
| As we got into the first part of January, we saw an uptick in some of our safety incidents in the plant |
| That has not come down nearly as much as the gas prices |
| And one of the things that I think doesn't get enough focus is the importance of aluminum in energy transition |
| Katja Jancic And then maybe staying more near term, you're taking a couple of actions to improve your EBITDA |
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