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المشهد العربي
Mercuria and Glencore Ponder Deal with Venezuela on Aluminum Plant
Mercuria and Glencore are currently in negotiations with the Venezuelan government to manage the FENALUM smelter, the largest aluminum producer in Venezuela, with the aim of reaching an agreement to regulate its operation and production rights. The smelter, located in Bolívar state, is one of the largest aluminum plants in the country, with an annual production capacity of 430,000 tons. However, its output has significantly declined due to a lack of investments, power outages, and ongoing economic crises. While no final agreement has been reached yet, these negotiations could pave the way for major commodity traders to re-enter Venezuela's important industrial sector.
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