Jan 6 (Reuters) - Australian diversified miner South32 Ltd (S32) said on Thursday it would spend about $70 million to restart the Alumar aluminium smelter in Brazil with its joint venture partner Alcoa Corp AA.N .
The smelter, which has been on care and maintenance since 2015, is a part of South32's Brazil Alumina operations, which also include a share in the country's largest bauxite mine and a refinery.
South32 said its 40% share of Alumar will be entirely powered by renewable energy as it is restarted over 2022 and 2023.
"We see strong long-term market fundamentals for aluminium. By investing along our existing alumina-aluminium value chain, we are... meaningfully increasing our share of metal produced utilising green energy," Chief Executive Officer Graham Kerr said in a statement.
First production from the smelter is expected in the June quarter. South32 anticipates output of 5,000 tonnes this year and 140,000 tonnes next year from its share of the operation.
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