STICKING POINT: South32 to mothball Mozambique smelter in March as power talks collapse

In a significant step, Australia’s South32 has announced plans to mothball its Mozal aluminium smelter in Mozambique by March, incurring a $60-million one-off cost, because of failed power negotiations. The deadlock stems from an inability to agree on electricity pricing amid ongoing drought conditions affecting hydroelectricity supply.