April 6th, 2010
Aluminum producer Alcoa Inc. amended a deal with the Saudi Arabian Mining Co. related to the construction of a bauxite mine, alumina refinery, aluminum smelter and rolling mill in Saudi Arabia, according to a regulatory filing on Monday.
Alcoa will now pay $34 million instead of $55 million to the mining company for some costs it incurred prior to their joint venture's formation. The payment is due Aug. 1.
Shares of Alcoa shed a penny to $14.69 in afternoon trading.
Alcoa will now pay $34 million instead of $55 million to the mining company for some costs it incurred prior to their joint venture's formation. The payment is due Aug. 1.
Shares of Alcoa shed a penny to $14.69 in afternoon trading.
