Rusal, the Russia based parent company of Jamaica’s Windalco alumina plant, had mixed financial results for the first half of its financial year stating that the market environment was unfavorable for the aluminium industry.
First-half revenue totaled US$4.7 million, down by $261 million.
Sixth month gross profit fell by $588 million to $805 million.
Aluminium prices declined by more than 17%, year-on-year.
Rusal reported improved production levels during the six months under review.
The mining conglomerate refined 3.8 million metric tons of alumina, better than last year by 34,000 metric tons.
The first half saw Rusal harvest 8.7 million wet metric tons of bauxite.
That was an increase of 1,793 thousand metric tons over 2018.