Africa’s Second-Largest Aluminum Smelter at Risk of Shutdown

Africa’s second-biggest aluminum smelter may close in March after operator South32 Ltd. is yet to secure a new electricity supply agreement before the current one expires. The company’s shares plunged.

The Mozal plant, located outside Mozambique’s capital Maputo, will no longer be viable under a proposed new tariff set to replace the existing one early next year, the company said in a letter to affected parties seen by Bloomberg and verified by the company.