JAPAN-U.S. CONSORTIUM
Alumina Plant In Australia (N.Z.P. A.-Reuter—Copyright) TOKYO, Nov. 12. A basic agreement has been reached by two Japanese aluminium smelters with American Metal Climax Company for the joint construction of an alumina plabt to Australia. Sumitomo Chemical Company said today that it and Showa Denko K.K. had been studying the feasibility of the scheme. Sumitomo said that the Japanese partners had agreed to invest a part of the funds necessary for the construction of the plant, which is scheduled to be built by‘l973 in the Kimberleys. The two Japanese firms will buy -the alumina at production cost in proportion to their respective invested capital, the size of which Sumitomo declined to disclose.
Amax’s subsidiary, Amax Aluminium, which owns mining rights in the Kimberley district, is prospecting for bauxite, Sumitomo said. Final agreement on the alumina project was expected to be completed by the spring of 1970.
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Press, Volume CIX, Issue 32145, 14 November 1969, Page 13
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148JAPAN-U.S. CONSORTIUM Press, Volume CIX, Issue 32145, 14 November 1969, Page 13
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