Netherland-based producer Aldel has signed an agreement with Glencore committing to sell 180,000mt of aluminium in 2020 and 2021.
The agreement will provide Aldel with a guaranteed market. The agreement could help the company keep up its production ramp-up plan. Aldel is pursuing a ten-year plan to become leading low cost and energy-efficient aluminium producer in Europe.
Chris McNamee, Aldel CEO cited that this offtake agreement would secure a medium-term future for the company amid the COVID-19 crisis.
Aldel has its headquarters in Delfzijl. Aluminium produced by the company is used in the transport and construction sectors in Europe. York Capital acquired the company in November 2017.
Besides producing metals and minerals like copper, cobalt, zinc, nickel, and ferroalloys, Glencore also markets aluminium, alumina and iron ore from third parties.