aluminium progress report, page-35

Hi Jaydee - my understanding is that the relationship with AlCOA is stronger than ever - however the actual processing of ALCOA's dross/salt slag is delegated down to the second tier partners like SSC. Likewise any contracts with ALCOA are likely to be in the form of TOLL treating agreements rather than the partnership arrangement we were looking for. WE may get an agreement to be ALCOA's worldwide first choice (partner with a little p) for this but don't now think ALCOA itself is getting into the second tier smelting/treating industry itself. i think we got this wrong hence the SSC surprise. We will build them all over the states and process ALCOA's slag for a fee like in AUS but we will also be a separate entity and hence free to process everyone's slag not just ALCOA's. ALCOA produce 40% of USA's million tpa but the other 60% need to be sorted out. Then you have fixed asset arrangements like huge landfills such as the SSC JV which are a different agreement again - we could get all sorts of these to deal with the various dump sites across the states.

Just my guess Jaydee based on all the tidbits added up.