Qatar's Qamco confirms termination of Hydro aluminium marketing deal

Norsk Hydro ASA

14/06/2026 09:43

    June 14 (Reuters) - Qatar Aluminum Manufacturing Co
 QAMC.QA , known as Qamco, on Sunday confirmed partner Norsk
Hydro's  NHY.OL  role as marketing agent for their Qatalum
aluminium joint venture had been terminated. It did not provide
a reason.
    "Following the termination, Qatalum will assume
responsibility for the marketing and sale of its aluminium
products on a provisional basis," Qamco said in a statement,
adding that it continued to engage constructively with Hydro to
ensure an orderly transition.     
    * Reuters reported on Friday that Qatalum had cancelled the
commercial agreement under which the plant supplied metal to
Hydro; Hydro issued a force majeure notice to customers.
    * Qamco does not expect any material adverse impact on
financial or operational performance at
648,000-metric-ton-per-year Qatalum, which has only been
operating at 60% of capacity since March after the outbreak of
the Iran war.
    * Qamco said it was "investigating the circumstances" of the
disclosure by Hydro, which it said was obliged to maintain
confidentiality and coordinate on any public release of
information.
    * Qatalum was founded in 2006 as a 50-50 joint venture
between Hydro and state-owned Qatar Petroleum, now known as
QatarEnergy; QatarEnergy holds 51% in Qamco.


 (Reporting by Tom Daly
Editing by Tomasz Janowski)
 ((Tom.Daly@thomsonreuters.com;))