Alcoa Corporation and its joint venture partner, IGNIS Equity Holdings, confirmed they're resuming the restart process for the San Ciprián smelter in Spain. In April this year, a widespread power outage across Spain impacted the San Ciprián refinery and smelter, causing a pause in restart efforts.

After reviewing the Spanish government's report on the outage and planned grid resilience measures, Alcoa's Vice President for Spain, Rob Bear, stated they received assurances regarding reliable and competitive energy.

The joint venture projects that the smelter's full restart will be complete by mid-2026.

Alcoa expects a net loss (pre-tax and noncontrolling interest) for the smelter of about US$90 million to US$110 million in 2025.