CITIC Resources (HKG:1205) will supply 287 megawatts of electricity to Australia's Portland Aluminium Smelter under an additional electricity hedging agreement between the parties, a Wednesday bourse filing said.
The electricity supply volume, when combined with 300 megawatts of electricity to be supplied under a previous contract, represents up to 95% of the energy needed to meet the smelter's nameplate capacity of 358,000 tons of aluminum per year.
The facility is currently producing around 80% of that capacity, according to the filing by the minerals company.
The contract is valid for nine years starting July 1, 2026, and ending June 30, 2035.
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