ALBAhttp://www.aluminiumbahrain.com©2011 ALBAALBA News Feedssomeone@alba.com.bhsomeone@alba.com.bhAlba Discloses its Financial Results for the Fourth Quarter and Full-Year of 2020http://www.albasmelter.com/mc/News/Pages/2021/Alba-Discloses-its-Financial-Results-for-the-Fourth-Quarter-and-Full-Year-of-2020.aspx<!​​<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210210.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <b>Q4 2020 and Full-Year 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 Profit of BD32 million (US$85.1 million) for the fourth quarter of 2020, up by 132% Year-over-Year (YoY) versus a Profit of BD13.8 million (US$36.7 million) for the same period in 2019. The Company reported Basic and Diluted Earnings per Share of fils 23 for Q4 2020 versus Basic and Diluted Earnings per Share of fils 10 for the same period in 2019. The Total Comprehensive Income for Q4 2020 stood at BD32.9 million (US$87.7 million) versus Total Comprehensive Income for the fourth quarter of 2019 of BD13.8 million (US$36.7 million) – up by 138% YoY. Gross Profit for the fourth quarter of 2020 was BD60.1 million (US$159.9 million) versus BD44.8 million (US$119.1 million) in Q4 2019 – up by 34% YoY. <br /><br /> For the Full-Year of 2020, Alba has reported a Profit of BD9.7 million (US$25.9 million), up by 81% YoY, versus a Profit of BD5.4 million (US$14.3 million) for 2019. Alba reported Basic and Diluted Earnings per Share of fils 7 versus Basic and Diluted Earnings per Share of fils 4 in 2019. Alba’s Total Comprehensive Income for the Full-Year of 2020 was BD1.4 million (US$3.9 million), down by 73% YoY, compared to a Total Comprehensive Income of BD5.4 million (US$14.3 million) for 2019. Gross Profit for 2020 was BD141 million (US$375 million) versus BD90.2 million (US$239.9 million) in 2019 – up by 56% YoY. <br /><br /> With regards to the Revenue from Contracts with Customers in Q4 2020, Alba generated BD278.8 million (US$741.5 million) versus BD293.7 million (US$781 million) in Q4 2019 - down by 5% YoY. For the Full-Year of 2020, Revenue from Contracts with Customers reached BD1,061.4 million (US$2,822.9 million), up by 3% YoY, compared to BD1,029.4 million (US$2,737.8 million) for 2019. <br /><br /> Total Equity as at 31 December 2020 stood at BD1,079.5 million (US$2,871.1 million), up by 0.09% YoY, versus BD1,078.6 million (US$2,868.5 million) as at 31 December 2019. Alba’s Total Assets as at 31 December 2020 were BD2,353.7 million (US$6,259.8 million) versus BD2,408.2 million (US$6,404.8 million) as at 31 December 2019 - down by 2%. <br /><br /> Alba’s top-line was impacted in the fourth quarter of 2020 by lower metal Sales’ volume and partially offset by higher LME price [up by 9% Year-over-Year (US$1,918/t in Q4 2020 versus US$1,754/t in Q4 2019)] while the bottom-line was driven by higher LME prices and partially impacted by higher depreciation, financial charges and foreign exchange losses. <br /><br /> Alba’s top-line was driven in 2020 by higher metal Sales’ volume (14% YoY) and partially offset by lower LME price [down by 5% Year-over-Year (US$1,702/t in 2020 versus US$1,792/t in 2019)] while the bottom-line was driven by higher top-line and partially impacted by higher depreciation, financial charges and foreign exchange losses. <br /><br /> <b>2020 Industry Highlights – Supply/Demand in Focus<br /> </b> <br /> The global COVID-19 pandemic has forced short to medium-term challenges for all countries around the world while lockdowns casted potholes for major markets’ recovery. The political and economic response to COVID-19 has raised further emphasis on ESG issues and given voice for stimulus packages to be green. <ul> <li>The ripple effects from COVID-19 outbreak along with the subsequent control measures have seen the world market demand easing to 62.2 million metric tonnes (MT) – down by 4% Year-over-Year (YoY).</li> <li>COVID-19 outbreak continues to take its toll on Aluminium demand in major markets. A double-digit drop in consumption -- 14% YoY in North America and Middle East, 13% YoY in World ex-China, and 12% YoY in Europe.</li> <li>China closed 2020 with a modest improvement as its economy resumed its activity to pre-COVID-19 capacity utilization [a 4% YoY increase in demand].</li> <li>China: a net importer of aluminium for 1st time since 2009 owing to government stimulus packages which helped to reduce metal surplus outside China.</li> <li>Manufacturing activity in US continues at a steady pace with North America supply up by 5% YoY.</li> <li>Thanks to Alba’s Line 6 Expansion Project, production in Middle East surged by 3% YoY amidst 2% supply cuts in UAE.</li> <li>2020 left the Aluminium value-chain with a structural surplus: World market in surplus with China (+2.6 million MT) and without China (+3.4 million MT).</li> <li>LME inventories at ~1.3 million MT by end-2020 (versus ~1.4 million MT in 2019). LME-Cash averaged US$1,702/t in 2020 - down by 5% YoY.</li> </ul> <br /> <b>Alba Safety Highlights Amidst COVID-19</b> <ul> <li>Strong emphasis on ‘Safety First, Safety Always’ with the launch of Safety Voice virtual campaign on 2 Nov’20.</li> <li>Alba closed 2020 with 6 million safe working-hours despite the unfortunate LTI on 3 Aug’20.</li> <li>Working diligently with the National Taskforce for combatting COVID-19 to ensure our People’s Safety.</li> <li>Giving back beyond Alba via various focused-initiatives in the local community (sanitization, face masks distribution, etc.) to lessen COVID-19 impact.</li> <li>Enabling remote work from home for soft departments (men and women).</li> <li>Alba ranked FIRST for second year in a row on Environmental, Social and Governance (ESG) amongst companies in Bahrain by ESG Invest.</li> </ul> <br /> <b>2020: Alba Major Operational Highlights</b> <ul> <li>People-Focused: rolling-out ‘Al Jisr’ Programme -- a new Training and Development initiative to build supervisory skills for national workforce on 01 Nov’20.</li> <li>Alba inked MoU with Hangzhou Jinjiang Group Co. Ltd (HJJ) to explore future upstream development opportunities.</li> <li>Strong operational performance: Sales’ volume up by 14% YoY to 1,540,983 metric tonnes (MT), Production up by 13% YoY to 1,548,500 MT while VAP Sales averaged 44%.</li> <li>Growing presence in Asia with establishing a Branch in Singapore.</li> <li>Successful completion of Port Upgrade project.</li> <li>Spent Pot Lining (SPL) Plant: overall progress exceeded 60% as of 31 Dec’20.</li> <li>Line 6 Expansion Project: a recipient of the much-coveted GCC Industrial Project of the Year in the 2020 edition of the MEED Projects Awards.</li> <li>Project Titan – Phase IV achieved savings of US$145 million, higher by US$45 million versus a target of US$100 million.</li> </ul> <br /> <b>2021 Alba Priorities</b> <ul> <li>Evolve Towards Safety Excellence &amp; Keep Alba’s Intrinsic Assets (Employees &amp; Contractors) Safe Amidst Novel COVID-19.</li> <li>Lead by Example &amp; Support the Government’s Initiative by Taking COVID-19 Vaccine.</li> <li>Roll-out AL HASSALAH Savings’ Initiative with the Aim to Achieve US$100 million by 2022.</li> <li>Screen Potential Upstream Opportunities to Secure 1/3 Alumina requirements &amp; Continuous Dialogue with Hangzhou Jinjiang Group Co. Ltd (HJJ).</li> <li>Capitalise on Aluminium Stewardship Initiative (ASI) and Ecovadis Certifications to Penetrate New Markets &amp; New Market Segments.</li> <li>Complete Spent Pot Lining Treatment Plant as per Timeline.</li> <li>Focus on Green and Sustainable Initiatives.</li> <li>Launch 2021 New Vision, Mission &amp; Values [Vision: to be the number one aluminium supplier for the generations to come. Mission: being a responsible corporate citizen, we want to create value for all stakeholders and society. Values: Safe &amp; Green, Together, Ethics, Excellence, Resilience).</li> </ul> <br /> <font color="black"> Commenting on Alba’s financial performance for the full year of 2020, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: <br /><br /> “2020 was a year like no other but despite the challenging market sentiment, Alba closed this year stronger and on many fronts: <br /><br /> <ul> <li>Our operations were running at full capacity while maintaining the Safety of our workforce: employees and contractors’ personnel.</li> <li>Our operational performance was the highest ever achieved: 1,548,500 metric tonnes and beating our own target of 1,540,000 metric tonnes.</li> <li>Our resilient operations coupled with our agility yielded a sound financial performance with our Profit soaring to BD9.7 million (US$25.9 million) – up by 81% YoY.</li> <li>In Q4 2020 alone, our Profit topped BD32 million (US$85.1 million) – this unparalleled financial performance was behind our strong finish in 2020.”</li> </ul> <br /> Adding further, Alba’s Chief Executive Officer, Ali Al Baqali said: <br /><br /> “As I complete my first year as a full-time CEO, I am proud to say that our biggest achievement in 2020 was keeping our People safe – this is our number one priority. <br /><br /> Despite all odds, we have forged ahead in 2020 and kept our cost lean by exceeding Project Titan - Phase IV Savings’ Target [of US$100 million] by achieving additional US$45 million savings – this was only made possible thanks to our nimble workforce. <br /><br /> As we progress into 2021, we remain committed to Emerge Stronger as we advance towards Safety Excellence, capitalise on the lessons learnt in the pandemic year to meet AL HASSALAH objectives as well as have a Forward-Focus in respect to our ESG initiatives.” <br /><br /> Alba Management will hold a conference call on Monday 15 February 2021 to discuss Alba's financial and operational performance for 2020 as well as outline the Company's priorities for 2021. </font>​199 national employees promoted across Alba’s plant in 2020http://www.albasmelter.com/mc/News/Pages/2021/199-national-employees-promoted-across-Albas-plant-in-2020.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210117.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 – announced the promotion of 199 national employees across various departments during the second week of January 2021. These promotions reflect Alba’s commitment to develop its nationals from within to higher positions through customised training and development programmes. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Based on the Alba’s Master Training Plan (announced in October 2019), 52 employees were promoted to Supervisory and Management positions whereas more than 147 employees received higher grade promotions within the non-supervisory ranks. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s Chief Executive Officer Ali Al Baqali stated on this occasion:<br /><br /> </div> <div style="text-align:justify">“Despite the Pandemic, Alba continues to train its people in terms of developing their skills, responsiveness, and agility thus preparing them for what’s coming their way to lead Alba in the future.<br /><br />We wish them the best as they define their own path while advancing their career journey in Alba.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba also recently announced the Al Jisr Programme, a new Training and Development initiative that complements Alba’s Master Training Plan. The Al Jisr Programme targets Bahraini employees within non-supervisory ranks and provides them with technical and soft skills through a 4-year period to be eligible to apply for supervisory vacancies. </div> ​Alba CEO unveils new Vision, Mission and Values at the inaugural session of Majlis 2021http://www.albasmelter.com/mc/News/Pages/2021/Alba-CEO-unveils-new-Vision-Mission-and-Values-at-the-inaugural-session-of-Majlis-2021.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210111.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">Aluminium Bahrain B.S.C (Alba)’s - the world’s largest aluminium smelter ex-China - Chief Executive Officer Ali Al Baqali rolled-out the Company’s new Vision, Mission and Values at the inaugural ‘Majlis’ session held on Monday 11 January 2021 at the Alba Oasis Hall. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s new Vision – To be the number one aluminium supplier for the generations to come; Mission - Being a responsible corporate citizen, we want to create value for all our stakeholders and society; and Values - Safe &amp; Green, Together, Ethics, Excellence and Resilience will set Alba in motion where Safety, People Development, Governance and Sustainability will be its linchpins. The Majlis session also witnessed the CEO announcing Alba’s Objectives for 2021 - Safety Excellence, Al Hassalah (new savings’ program), Forward Focus and Emerge Stronger. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Al Baqali stated: </div> <div style="text-align:justify">“We can’t change 2020 but we can learn from it to emerge stronger and get better as a Company and Oneself. As we step in this year, we hope through rolling-out our 2021 Objectives that we will make 2021 count for all our stakeholders and society.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">This year, the inaugural session of Majlis - attended by the Executive Management, Directors and Managers - was held at the Oasis Hall while the remaining sessions will be held virtually on January 13-14, 2021. While COVID-19 has made physical distancing mandatory, Alba continues to remain close-knit as every session of the Majlis will be broadcasted live over virtual platforms to all employees and contractors’ employees. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The Annual Majlis was kicked-off in January 2020 when Ali Al Baqali took charge as the CEO of the Company. Held at the beginning of the year, the Annual ‘Majlis’ is a two-way communication platform where the CEO Ali Al Baqali will shed the light on 2020 major highlights and year in-review, current market trends as well as share 2021 Objectives. </div>2020 marks Alba’s highest production record ever achieved with more than 1.548 million MThttp://www.albasmelter.com/mc/News/Pages/2021/2020-marks-highest-production-record-ever-achieved.aspx<!<p style="text-align:justify"><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2021_all/210106.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 - closes 2020 by beating its Production Target of 1,540,000 metric tonnes per annum (mtpa) to top a breakthrough record of 1,548,500 metric tonnes, the highest-ever achieved in 50-years of commercial operations [up by 13% Year-over-Year versus 1,365,005 mtpa in 2019]. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on this production-record, Alba’s Chief Executive Officer Ali Al Baqali said:<br /><br /> </div> <div style="text-align:justify">“2020 was a year like no other with world-shifting challenges. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">But for Alba and despite all odds, we have raised the bar and finished 2020 strong by achieving the highest-ever record in our operational performance. This achievement was only made possible thanks to our dedicated workforce, employees and contractors’ employees who rose to such challenges while remaining fully committed to our motto of ‘Safety First, Safety Always’.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">The celebratory ceremony was held on Wednesday 06 January 2020 while adhering to social distancing norms and was attended by the Executive Management team along with many employees from across the plant. </div> ​​​Alba’s Line 6 Expansion Project Scoops GCC Industrial Project of the Year 2020 Award from MEEDhttp://www.albasmelter.com/mc/News/Pages/2020/Albas-Line-6-Expansion-Project-Scoops-GCC-Industrial-Project-of-the-Year-2020-Award-from-MEED.aspx<!<p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201221.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify">The world’s largest aluminium smelter, Aluminium Bahrain B.S.C. (Alba)’s Line 6 Expansion Project has bagged the much-coveted GCC Industrial Project of the Year in the 2020 edition of the MEED Projects Awards. The MEED Projects Awards recognise the best projects in the GCC across various sectors and promotes best practices in project delivery and operations, as well as innovation and sustainability. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Alba’s Line 6 Expansion Project has also been elected as National Winner for both Industrial Project of the Year and Mega Project of the Year Awards. Following a rigorous judging process based on a range of criteria including innovation, sustainability, design, and engineering among others, Alba’s Line 6 Expansion project was a top contender for this Award standing-out amongst other cutting-edge projects in the GCC. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Commenting on these awards, Alba’s Chairman of the Board of Directors Shaikh Daij bin Salman bin Daij Al Khalifa stated: </div> <div style="text-align:justify">“We are pleased that Alba Line 6 Expansion Project has been the recipient of MEED Industrial Project of 2020 at the GCC level - this truly recognises Alba’s strategic importance as one of the industrial cornerstones of Bahrain as well as its commitment to the Kingdom’s Economic Vision 2030. </div> <div style="text-align:justify"> </div> <div style="text-align:justify">Adding further, Alba’s Chief Executive Officer Ali Al Baqali said: </div> <div style="text-align:justify">“Alba will be closing 2020 as the world’s largest smelter w/o China thanks to Line 6 Expansion Project. This Landmark Project is a pledge of value creation for all our stakeholders and Bahrain’s society for the generations to come.” </div> <div style="text-align:justify"> </div> <div style="text-align:justify">One of the largest brownfield projects in the Region, Alba’s Line 6 Expansion Project is a remarkable success in many ways. With a CAPEX of c.US$3 billion, this Project comprised the construction of Reduction Line 6, Power Station 5 (PS 5) and other industrial facilities. Line 6 Expansion Project set benchmarks in sustainable aluminium production -- implementation of the proprietary Emirates Global Aluminium (EGA) DX+ Ultra Technology in Reduction Line 6 increases the output with no increase in energy consumption, while GE’s 9HA Gas Turbine technology in PS 5 has made it the most efficient Combined-Cycle power plant in the Gulf region. Reduction Line 6 was commissioned within 23 months, one of the fastest expansion projects to be ever commissioned in the aluminium industry. The Line 6 Expansion Project also echoed Alba’s strong Safety culture by recording more than (60,893,000) safe working-hours without Lost Time Injury – a notable feat in the aluminium smelting industry.</div>Alba achieves 5 million safe working-hours without LTIhttp://www.albasmelter.com/mc/News/Pages/2020/Alba-achieves-5-million-safe-working-hours-without-LTI.aspx<!<div>​​</div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201207.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div style="text-align:justify"> <span class="ms-rteThemeFontFace-2"><span>Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, achieved 5 million safe working-hours without any Lost Time Injury (LTI) across its operations on Monday 07 December 2020. </span></span></div> <span> </span><span class="ms-rteThemeFontFace-2"><span> </span></span><span class="ms-rteThemeFontFace-2"><span> </span></span><div class="ms-rteThemeFontFace-2" style="text-align:justify"><span> </span></div> <span> </span><span class="ms-rteThemeFontFace-2"><span> </span></span><span class="ms-rteThemeFontFace-2"><span> </span></span><div class="ms-rteThemeFontFace-2" style="text-align:justify"><span> Speaking on the Safety milestone, Alba’s Chief Executive Officer Ali Al Baqali said: </span></div> <span> </span><span class="ms-rteThemeFontFace-2"><span> </span></span><span class="ms-rteThemeFontFace-2"><span> </span></span><div class="ms-rteThemeFontFace-2" style="text-align:justify"><span> “Our ability to be resilient has helped us to emerge collectively - employees and contractors - stronger than before. As we continue to grow as a Company, we also seek to continuously improve our Safety performance.</span></div> <div class="ms-rteThemeFontFace-2" style="text-align:justify"><span>At the end of the day, what really matters is the Safety of our workforce.” </span></div> <span> </span><span class="ms-rteThemeFontFace-2"><span> </span></span><span class="ms-rteThemeFontFace-2"><span> </span></span><div class="ms-rteThemeFontFace-2" style="text-align:justify"><span> </span></div> <span> </span><span class="ms-rteThemeFontFace-2"><span> </span></span><span class="ms-rteThemeFontFace-2"><span> </span></span><div class="ms-rteThemeFontFace-2" style="text-align:justify"><span> In 2019, Alba was one of the few smelters in the world to have achieved Zero Lost Time Injuries (LTI). In 2020, Alba was recognized with five categories of National Safety Council awards, International Safety Award with Merit from British Safety Council and Gold Medal Health and Safety Award from the Royal Society for the Prevention of Accidents (RoSPA).</span></div>Alba inks MoU with HJJ to explore future upstream development opportunitieshttp://www.albasmelter.com/mc/News/Pages/2020/Alba-inks-MoU-with-HJJ-to-explore-future-upstream-development-opportunities.aspx<!<div>​​</div> <div> </div> <p><img alt="View Arabic Version" src="/mc/News/PublishingImages/pdficon.gif" /> <a href="/mc/News/PublishingImages/2020_all/201206.pdf" target="_blank"><font color="black">View Arabic version (PDF)</font> </a></p> <div> </div> <div style="text-align:justify"> <span style="font-family:&quot;arial narrow&quot;"><span>Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Hangzhou Jinjiang Group Co. Ltd (HJJ), a leading alumina producer with an annual nameplate capacity of 10 million tonnes in China. </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> The virtual signing ceremony - held in November 2020 - was attended by Alba’s Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa, the Owner of HJJ Mr. Dou Zhenggang and the Company’s Chairman Madam Wang Yuanluo in the presence of Alba CEO Mr. Ali Al Baqali and other top officials from Alba and HJJ.<br /><br />The MoU serves as a framework to form a strategic potential collaboration between both entities in terms of securing Alba’s alumina requirements. </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> On this occasion, Alba’s Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa commented:<br /><br /> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> “This Memorandum of Understanding translates Company’s strategy to have a vertically integrated business model as well as partially hedge against Alumina price volatility and supply constraints.<br /><br />We are also excited to explore more avenues for collaboration with HJJ which will further consolidate Alba’s status as one of the world’s leading aluminium producers.” </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> The Chairman of Hangzhou Jinjiang Group Co. Ltd Madam Wang Yuanluo added: <br /><br /></span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> “This MoU represents the first and important step for Aluminium Bahrain and Hangzhou Jinjiang Group as they commence a long and mutually beneficial relationship. </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> </span></span></div> <div style="text-align:justify;font-family:&quot;arial narrow&quot;"><span style="font-family:&quot;arial narrow&quot;"><span> We, Hangzhou Jinjiang Group, a leading Alumina producer, are committed to our international expansion plans, building and operating Alumina refineries in strategic locations, to provide high quality products at competitive terms to our valuable customers”.<br /><br />The MoU will remain in effect for a period of three years and can be extended based upon mutual agreement amongst both parties. ​</span></span></div> <div style="font-family:&quot;arial narrow&quot;"></div>Alba 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> ​