ALBAhttp://www.aluminiumbahrain.com©2011 ALBAALBA News Feedssomeone@alba.com.bhsomeone@alba.com.bhAlba Holds Board Meeting for Q4 of 2020http://www.albasmelter.com/mc/News/Pages/2020/Alba-Holds-Board-Meeting-for-Q4-of-2020.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201129.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify"> Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter ex-China, is on track to finish 2020 strong despite the challenges of the year, as stated by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa during the fourth quarterly Board of Directors’ meeting held virtually on Sunday 29 November 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Adding further, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: </div> <div style="text-align:justify"> “2020 has been a year of exceptional events on many fronts. Our secret to adapt to the changes and find our new balance is to focus our efforts, not on challenging today’s status quo, but on building the new and resilient Alba as we prepare ourselves to start 2021.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> During the meeting, the Board approved the Minutes of the previous Board Meeting held on 27 September 2020 as well as reviewed Reports of the Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. The Board also discussed and approved a Memorandum of Understanding (MoU) with Hangzhou Jinjiang Group Co. Ltd (HJJ), a leading alumina producer in China, to secure Alba’s long-term alumina requirements as well as a new proposal to creep Lines4-5. During the meeting, various updates were given on Safety and Plant Operational performance amidst COVID-19, insights on the overall market conditions as well as Alba’s Financial Performance to-date. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. © – Mr. Yousif Abdulla Taqi, Mrs. Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr. Tim Murray and Mrs. Rasha Sabkar. The three directors appointed by Sabic Industrial Investments Co. (SIIC) are Mr. Ahmed Al Duriaan, Mr. Iyad Al Garawi and Mr. Omar Al Amoudi and one elected director, Mr. Mutlaq Al-Morished. </div>Alba ranks FIRST on ESG amongst companies in Bahrainhttp://www.albasmelter.com/mc/News/Pages/2020/Alba-ranks-FIRST-on-ESG-amongst-companies-in-Bahrain-.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201124.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the world’s largest smelter ex-China, has topped the Environmental, Social and Governance (ESG) ratings list by ESG Invest, for the second year in a row, in Bahrain -- as announced by the Company on Tuesday 24 November 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">ESG Invest provides comprehensive ESG ratings research reports that quantify the ESG performance of companies in the Arab world across 200-plus ESG quantitative and qualitative Performance Indicators and more than 40 ESG criteria derived from International Standards and National Visions. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this milestone, Alba’s Chief Executive Officer, Ali Al Baqali said: </div> <div style="text-align:justify">“Ranking number ONE by ESG Invest in Bahrain endorses Alba’s sound corporate transparency and stakeholder accountability. </div> <div style="text-align:justify">We believe that ESG should be the Forward Focus especially as COVID-19 has accelerated the shift towards civic society with a major emphasis on social cohesion, community support and volunteering for the public good. </div> <div style="text-align:justify">Being one of the blue-chip assets in Bahrain, we remain committed to translate the Kingdom’s Economic Vision 2030 and lead the change in ESG.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">In 2020, Alba’s reputation as an environmentally friendly aluminium smelter was boosted when it was awarded with Aluminium Stewardship Initiative (ASI) Performance Certification for its ESG performance as well as the ‘Bronze Medal’ 2020 in recognition of its commitment and performance in CSR. </div>Alba announces a new initiative to boost Bahrainisationhttp://www.albasmelter.com/mc/News/Pages/2020/Alba-announces-a-new-initiative-to-boost-Bahrainisation.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201108.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify"> In line with its ongoing commitment to invest in its national workforce, Aluminium Bahrain B.S.C. (Alba) rolled-out ‘Al Jisr’ Programme -- a new Training and Development initiative which aims to build supervisory skills on Sunday 01 November 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> The Programme targets Bahraini employees from within non-supervisory ranks while providing them with the technical and soft skills through a 4-year period, squeezing the timeframe by more than half, to be eligible to apply for supervisory vacancies upon successful completion. Alba held a weeklong virtual interactive awareness campaign to familiarise all candidates on the application criteria and selection process which will be managed by a specialized external party. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> On the launch of this initiative, Alba’s Chief Executive Officer Ali Al Baqali commented: </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> “Boosting Bahrainisation has always been one of our top priorities in the Company. With Al Jisr Programme, we aim to train and develop our high-potential national employees whom we consider our greatest assets. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> We don’t aspire to build businesses; we aim to invest in our people who then become Alba future leaders to translate our vision -- to be the number one Aluminium supplier for the generations to come.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Al Jisr Programme will complement Alba’s Master Training Plan that was launched back in October 2019 as a customised training and development initiative to fulfil the needs of every job and employee in the Company.</div> ​Alba Launches Safety Voice Campaignhttp://www.albasmelter.com/mc/News/Pages/2020/Alba-Launches-Safety-Voice-Campaign.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201102.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), a leader in Employees’ Safety and Health, emphasized its strong Safety culture with launching ‘Safety Voice’ virtual campaign on Monday 02 November 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s Chief Executive Officer Ali Al Baqali inaugurated the Campaign with a keynote presentation by addressing Alba Family - employees and contractors’ workers - and stressed on the workforce’s role to build a sustainable Safety culture for the generations to come. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The Safety Voice Campaign, to be held virtually from 02 to 11 November 2020, comes as part of Alba’s commitment to empower its Non-Management employees to voice-out their Safety messages via as well as adopt a bottom-up approach for Safety communication. This Campaign will also feature various Safety visits to shop-floor areas led by the Executive Management Team. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">On this occasion, Alba’s CEO Ali Al Baqali commented: </div> <div style="text-align:justify">“What makes the ‘Safety Voice’ Campaign unique is that it provides our Non-Management employees -- being on the shop-floor and at the heart of Alba’s operations -- the opportunity to use their voice and accordingly be the changes the Company want to see when it comes to Safety Excellence.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba has recently topped 3.5 million working-hours without Lost Time Injury (LTI) and was one of the few smelters in the world to have achieved Zero Lost Time Injuries (LTI) in 2019. </div>Alba Discloses its Financial Results for the Third Quarter and Nine-Months of 2020http://www.albasmelter.com/mc/News/Pages/2020/Alba-Discloses-its-Financial-Results-for-the-Q3-2020.aspx<!​​<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201026.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <b>Q3 &amp; Nine-Months of 2020 Financial Performance:</b> <br /><br /> Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), the world’s largest aluminium smelter w/o China, has reported a Loss of BD11.6 million (US$31 million) for the third quarter of 2020, up by 209% Year-over-Year (YoY) versus a Profit of BD10.7 million (US$28.4 million) for the same period in 2019. The Company reported Basic and Diluted Loss per Share for the third quarter of 2020 of fils 8 versus Basic and Diluted Earnings per Share of fils 8 for the same period in 2019. The Total Comprehensive Loss for Q3 2020 stood at BD11.7 million (US$31.1 million) versus Total Comprehensive Profit for the third quarter of 2019 of BD10.7 million (US$28.4 million) – up by 209% YoY. Gross Profit for the third quarter of 2020 was BD25.7 million (US$68.3 million) versus BD29.2 million (US$77.6 million) in Q3 2019– down by 12% YoY. <br /><br /> With regards to the nine-months of 2020, Alba has reported a Loss of BD22.3 million (US$59.2 million), up by 164% YoY, versus a Loss of BD8.4 million (US$22.4 million) for the same period in 2019. For the nine-months of 2020, Alba reported Basic and Diluted Loss per Share of fils 16 versus Basic and Diluted Loss per Share of fils 6 for the same period in 2019. Alba’s Total Comprehensive Loss for Nine-Months of 2020 was BD31.5 million (US$83.8 million), up by 273% YoY, compared to a Total Comprehensive Loss of BD8.4 million (US$22.4 million) for the nine-months of 2019. Gross Profit for the nine months of 2020 was BD80.9 million (US$215.1 million) versus BD45.4 million (US$120.9 million) in nine-months of 2019 – up by 78% YoY. <br /><br /> With regards to the Revenue from Contracts with Customers in the third quarter of 2020, Alba generated BD262.7 million (US$698.6 million) versus BD287.1 million (US$763.6 million) in Q3 2019 - down by 8.5% YoY. For the Nine-Months of 2020, Total Revenue from Contracts with Customers reached BD782.6 million (US$2,081.5 million), up by 6% YoY, compared to BD735.7 million (US$1,956.7 million) for the same period in 2019. <br /><br /> Total Equity as at 30 September 2020 stood at BD1,046.2 million (US$ 2,782.4 million), down by 3%, versus BD1,078.6 million (US$2,868.6 million) as at 31 December 2019. Alba’s Total Assets as at 30 September 2020 stood at BD2,382.3 million (US$6,335.9 million) versus BD2,420.2 million (US$6,436.8 million) as at 31 December 2019 - down by 1.6%. <br /><br /> Alba’s top-line was driven in the third quarter of 2020 by higher metal Sales’ volume thanks to Line 6 and partially offset by lower LME price [down by 3% Year-over-Year (US$ 1,706/t in Q3 2020 versus US$ 1,761/t in Q3 2019)] while the bottom-line was impacted by higher depreciation, financial charges and foreign exchange losses. <br /><br /> <b>Q3 2020 Industry Highlights:</b> <br /> <ul> <li> The Global recovery lost its momentum as markets reacted differently with the easing of lockdown restrictions. The political and economic response to COVID-19 has also raised importance on ESG issues and given voice for stimulus packages to be green. </li> <ul> <li> World Consumption down by 4% Year-over-Year. </li> <li> COVID-19 outbreak continues to take its toll on Aluminium demand in major markets -- World ex-China has seen a decline in Aluminium consumption [a drop of 12% YoY]. </li> <li> Challenges relating to pandemic, impact of failure in Brexit negotiations, US elections and US-China trade war continue to weigh on business sentiment in Europe -&gt; leading to a contraction in Aluminium demand of 13% YoY. </li> <li> Recovery in Aluminium demand gathers pace in China with 3% YoY increase thanks to the government’s stimulus packages [rebound in construction and auto sectors]. </li> </ul> <li> Global Production witnessed a modest growth of 2% YoY. Primary Aluminium production in MENA down by 3% YoY [owing to supply cuts in UAE of c.6% YoY]. Manufacturing activity in US continues with supply in North America up by 4% YoY. China’s output grew by 5% YoY - boosted by start-up of new projects. This has led the world market to be in surplus with China (+611Kt) and (+851Kt) without China. </li> <li> LME inventories at ~1.45 million MT as of September-end (up by 56% YoY). LME-Cash averaged US$1,706/t (down by 3% YoY) and the physical premium prices were on roller coaster ride. </li> </ul> <br /> <b>Alba Safety Highlights amidst COVID-19:</b> <br /> <ul> <li> Alba launches its first virtual Summer Safety Campaign ‘Our Safety is in Our Hands’ in July 2020 </li> <li> Alba achieved 24.5 Million Safe Working-Hours w/o LTI on 02 August 2020. On 03 August 2020, Alba had an unfortunate LTI. </li> <li> Ongoing liaison with the National Taskforce for combatting COVID-19 to ensure People’s Safety (Employees and Contractors’ Workers). </li> <li> Remote work from home continues for soft departments (men &amp; women). </li> <li> Restricting travels, embracing social distancing and conducting virtual/e-meetings with all Management levels and visitors. </li> </ul> <br /> <b>Q3 2020 Alba Highlights:</b> <br /> <ul> <li> Alba hosts virtual ‘Market Update’ sessions for its customers in partnership with CRU. </li> <li> Alba -- a recipient of 2 major awards from Middle East Investor Relations Association (MEIRA). </li> <li> MoU inked between Alba and University of Bahrain to enhance scientific and research cooperation. </li> <li> Sales’ volume topped 393,177 metric tonnes (MT) - up by 5% YoY while Production reached 385,638 MT (almost flat). </li> <li> Value-Added Sales averaged 48% of total shipments. </li> <li> Spent Pot Lining (SPL) Plant overall progress exceeded 40%. </li> </ul> <br /> <b>2020 Alba Priorities:</b> <br /> <ul> <li> Strong focus on ‘Safety Globe’ Initiative &amp; keep Alba’s intrinsic assets (Employees &amp; Contractors) safe amidst novel COVID-19. </li> <li> To achieve 2020 Production Target of 1,540,000 MT. </li> <li> Maintain Project Titan - Phase IV Savings [Projected Savings of US$ 100 Million by 2020-end]. </li> <li> Screen for upstream opportunities to secure c. 1/3 of Alumina requirements. </li> <li> Capitalise on Aluminium Stewardship Initiative (ASI) and Ecovadis Certifications to penetrate new markets as well as segments for foundry and slabs. </li> <li> Establish a Branch in Singapore. </li> <li> Complete SPL Treatment Plant and Port Upgrade as per timeline. </li> <li> Launch 2021 Objectives in Annual CEO Majlis. </li> </ul> <br /> <font color="black"> Commenting on Alba’s financial performance for the third quarter and 9-months of 2020, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: <br /><br /> “We are all in this together and COVID-19 showed us that nothing is more important than our Safety. At Alba, Safety of our people and contractors’ employees, is and will remain our number one priority. <br /><br /> Like all businesses, our performance has been relatively dampened due to COVID-19 impacts and despite our operational resilience.” <br /><br /> Adding further, Alba’s Chief Executive Officer, Ali Al Baqali said: <br /><br /> “We continue to navigate through these unprecedented times by focusing on what we control best: Safety of our People, Efficient Operations and Lean Cost Structure. <br /><br /> We also remain optimistic that with the agility of our people and strategic capabilities, we will get back on track and stronger than before.” <br /><br /> Alba Management will hold a conference call on Tuesday 27 October 2020 to discuss Alba's financial and operational performance for Q3 2020 as well as outline the Company's priorities for the remainder of this year. </font>​Alba, SCE, & MOICT Officials Visit Alba’s Spent Pot Lining Treatment Planthttp://www.albasmelter.com/mc/News/Pages/2020/Alba-SCE-MOICT-Officials-Visit-Albas-Spent-Pot-Lining-Treatment-Plant.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201025.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Officials from Aluminium Bahrain B.S.C. (Alba); Supreme Council for Environment (SCE); and Ministry of Industry, Commerce, and Tourism (MOICT); paid an inspection visit to the construction site of Alba’s Spent Pot Lining (SPL) Treatment Plant, the first of its kind in the GCC and Middle East, on Tuesday 20 October 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The visit was led by Alba’s Chief Executive Officer, Mr. Ali Al Baqali, Chief Executive Officer of Supreme Council for Environment, Dr. Mohammed bin Dainah, and H.E. Undersecretary for Commerce Affairs at the Ministry of Industry, Commerce and Tourism, Ms. Eman Ahmed Al Doseri, who were also accompanied by officials from Alba, MOICT, and SCE. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This Project is in line with Bahrain’s National Waste Management Strategy led by His Highness Shaikh Abdulla bin Hamad Al Khalifa, Personal Representative of His Majesty King of Bahrain and President of the Supreme Council for Environment. The project will provide a value-creating and sustainable solution to treat SPL with ensuring zero-waste. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">On this occasion, Alba’s CEO, Mr. Ali Al Baqali said: “The Spent Pot Lining Plant construction is in full swing and we are pleased with the progress we have achieved so far as that will bring us closer to realise our vision in setting the benchmark in terms of sustainability and waste management. I take the opportunity to thank MOICT for their continuous support in this journey and SCE for helping us to address one of the key environmental issues for our industry.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The CEO of SCE, Dr. Bin Dainah, expressed his pleasure with the efficiency adopted while executing this project and said: “SCE is proud to have such partnership with Alba, which has resulted into this key strategic project that underlines the Kingdom’s efforts towards achieving sustainable development goals.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Dr. Bin Dainah added: </div> <div style="text-align:justify">“Bahrain is about to become home to the first plant in the region to treat this type of waste. This reaffirms the Kingdom’s reputation as one of the leading countries to achieve balance between increased production and environment friendly processes, in addition to having the largest smelter in the world ex-China, which is a source of pride for the entire nation. Transforming 100% of the treated SPL to raw materials for other industries in Bahrain will enhance the success of this project, and we shall all collaborate towards achieving this goal.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">H.E, Undersecretary of Commerce Affairs at the MOICT, Ms. Eman Ahmed Al Doseri, added: </div> <div style="text-align:justify">“The Ministry is committed to supporting local companies in developing the industrial sector in Bahrain, which will in turn increase their contribution to the GDP. This is achieved through facilitating the development projects and adopting the most advanced technologies in order to enhance their productivity and set the example in terms of sustainable and environment friendly initiatives.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Built over 26,000 square meters with annual capacity of 35,000 tonnes of SPL, the Alba’s SPL Treatment Plant commenced construction in 2019 and is expected to start up by Q2 2021. The Project overall progress has advanced by 42% and achieved more than 178,000 safe working-hours without LTI to-date. </div>Alba Renews MoU with AGU to Boost Cooperation in Human Capital Developmenthttp://www.albasmelter.com/mc/News/Pages/2020/Alba-Renews-MoU-with-AGU-to-Boost-Cooperation-in-Human-Capital-Development.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201011.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), a leading employer of Bahrainis, renews its Memorandum of Understanding (MoU) with Arabian Gulf University (AGU), one of Bahrain’s leading educational institutes, on Thursday 08 October 2020 at Alba premises. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This renewal is an extension of the existing MoU which has established the framework between the two entities to develop Alba’s human capital through higher education, tailor-made training programmes and applied research in the fields of common interest mainly in business management. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The MoU was signed between Alba’s Chief Executive Officer Mr. Ali Al Baqali, and AGU’s President Dr. Khalid Abdul Rahman Al-Ohaly in the presence of Alba and AGU officials at Al Dana Hall, Alba. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on the MoU, Alba’s CEO Mr. Al Baqali said: </div> <div style="text-align:justify">“We are delighted to renew this MoU with one of the pioneering educational institutes in the Kingdom of Bahrain as we continue to develop Alba future leaders for the generation to come. Alba and AGU have a longstanding cooperation spanning more than 7 years as AGU has been our partner in developing our high potential employees via Alba-sponsored MBA programme.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Moreover, AGU’s President Dr. Al-Ohaly added: </div> <div style="text-align:justify">“We highly value Alba’s confidence in the higher education programmes offered by AGU. This cooperation will provide the necessary expertise, competencies, and support for the young leaders in the Company, so Alba continues its leading position in the aluminium industry and enhance Bahrain’s competitiveness worldwide.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">It is worth mentioning that Alba has sponsored many high potential employees to attain their MBA degrees from leading business schools to include Arabian Gulf University through the MBA programme which is offered in cooperation with the French Arabian Business School (FABS) along with ESSEC Business School, France. </div>Alba - a recipient of two major awards from Middle East Investor Relations Associationhttp://www.albasmelter.com/mc/News/Pages/2020/Alba-a-recipient-of-two-major-awards-from-Middle-East-Investor-Relations-Association.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201005.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has been honoured with two prestigious awards -- Leading Corporate for Investor Relations in Bahrain and Best Investor Relations Professional – Bahrain -- at the 2020 Middle East Investor Relations Association (MEIRA) Annual Conference and Awards Ceremony that was held virtually on 22-23 September 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The MEIRA Annual Conference and Awards is the largest Investor Relations (IR) event in MENA, which recognises the efforts of regionally listed companies and IR professionals for their critical role in shaping the IR landscape. It is also a platform for locally listed firms, international corporates, investors, research analysts, advisors, and Regulatory bodies to share best practices and discuss the market challenges. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this occasion, Alba’s Chief Executive Officer Ali Al Baqali said: </div> <div style="text-align:justify">“We never know what kind of market set-up will have for us, but we have this one opportunity to make a first impression – with investors and financial community. We are pleased that our IR discipline and our commitment to stakeholders have been again recognised at the 2020 MEIRA Annual Conference and Awards. I also take this opportunity to congratulate Alba’s Director of IR, Insurance and Corporate Secretary – Eline Hilal and the IR team for their savviness to advance the IR role of Alba in the region and deliver shareholder value.” </div>Alba holds its Board Meeting for third quarter of 2020http://www.albasmelter.com/mc/News/Pages/2020/Alba-holds-its-Board-Meeting-for-Q3-2020.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/200927.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter ex-China, held its Board of Directors’ Meeting virtually for the third quarter on Sunday 27 September 2020. </div> <div> </div> <div> Commenting on this occasion, Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: </div> <div> “As we navigate through this unprecedented time, Alba is reforming itself by capitalising on its Safety culture and human assets, increasing its operational resilience and agility, and re-thinking its cost structure. </div> <div> Despite the challenges, we remain committed to have a strong finish by meeting our 2020 Production Target of 1,540,000 metric tonnes.” </div> <div> </div> <div> The Board approved the Minutes of the previous meeting as well as reviewed the Reports of the Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. Alba’s Safety initiatives, financial performance-to-date, Titan-Phase IV, operational productivity as well as the overall market sentiment amidst COVID-19 were also discussed during the meeting. </div> <div> </div> <div style="text-align:justify"> Including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. © – Mr. Yousif Abdulla Taqi, Mrs. Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr. Tim Murray and Mrs. Rasha Sabkar. The three directors appointed by Sabic Industrial Investments Co. (SIIC) are Mr. Ahmed Al Duriaan, Mr. Iyad Al Garawi and Mr. Omar Al Amoudi and one elected director, Mr. Mutlaq Al-Morished.​</div>Alba CEO emphasises on Sustainability at the Virtual International Aluminium Conference 2020http://www.albasmelter.com/mc/News/Pages/2020/International-Aluminium-Conference-2020.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/200923.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify"> Ali Al Baqali, the Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba), was a key speaker at the Virtual International Aluminium Conference 2020 by Fastmarkets taking place from 21 to 23 September 2020. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> Al Baqali featured alongside the CEOs of leading global aluminium producers in the Executive Panel on 22 September. This session focussed on current issues faced by the aluminium industry including COVID-19 – impacts, actions, expectations; Aluminium fundamentals – macro backdrop, end-use industries; and China and Aluminium supply. As one of the panellists, Al Baqali highlighted Alba’s response strategy to COVID-19 and lessons learnt, as well as emphasised on the Company’s focus in respect to Safety, Efficient Operations and Lean Cost Structure. </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> During the CEO Fireside Chat on 23 September, Al Baqali gave insights on Alba’s approach to sustainability and societal impact and said: </div> <div style="text-align:justify"> “Sustainability is not only about being a green smelter, it is also about going above and beyond to give back to our community in terms of Environment Protection, Social Responsibility and Governance. </div> <div style="text-align:justify"> To accelerate our sustainable transformation, we have carried-out many initiatives to include building the Spent Pot Lining (SPL) Treatment Plant – the first of its kind in GCC, which upon completion in 2021, will transform SPL into value-products for industries while ensuring zero waste; investing in the Fish Farm Project at Alba’s Calciner and Marine operations; and conducting feasibility studies to install solar panels in Alba parking area to generate power and there will be more to come.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify"> It is worthy to note that Alba is one of the major aluminium smelters participating in the Virtual International Aluminium Conference 2020, which is a well-known platform for aluminium producers and end-users to connect for potential growth opportunities as well as share their views on the industry.</div> ​