NHYDY Norsk Hydro ASA (QX)

By Dominic Chopping

Norwegian aluminum-and-energy company Norsk Hydro ASA (NHY.OS) said Wednesday that environmental regulators have given it the green light to resume operations at its Alunorte alumina refinery in Brazil, but full operations can't yet be resumed as the Federal Court embargo remains in force.

Production has been running at 50% capacity for most of the last 10 months after Brazilian authorities ordered the company to lower water levels at the refinery's bauxite-residue deposit amid flooding and possible water contamination.

The environmental agency, SEMAS, has now issued a technical note attesting that Hydro Alunorte can safely resume normal operations and has on this basis lifted its production embargo.

"SEMAS decision is an important recognition that Alunorte's operations are safe," said Norsk Hydro's John Thuestad, executive vice president of the bauxite-and-alumina business.

"We will continue the dialogue with the authorities pursuing full resumption of production."

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

January 16, 2019 02:51 ET (07:51 GMT)

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