Thanks, Bill.
for is aluminum, like to by since of demonstrate the highlight price examining industry. of we’ve Next, changes across Perhaps seen we’re the realized which the improvements I’d easiest the way our seeing underlying the highest these fundamentals is impact to the XXXX.
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expect third-party bauxite to XXXX we full continue production. to we said year shipments last as quarter, I increase As boost
a impact have on specifically with dynamics to aluminum to Changing industry moments global Next, to few industry. regard a country the this I’d on spend the like aluminum fundamentals, China. primary in potential major have
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others in the launch projects, smelters. are and meet industrial are new aluminum order primary preventing canceling provinces power their targets for tariffs Some of energy-intensive smelting including preferential to
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range that million-ton change in new, is further positive not fundamentals. this global well change country occurring And industry. taking drive China, the pressures broad the constraints our when supply to in change world. to China a a as are transition it issues. of even across Other is noted industry steps the approaches also aluminum its will capacity meet ESG-related cap. previously, And aluminum are Alcoa demanding and global see comes the is the Given slow XX can significant that economies the rapid to growth demands primary And world. likely there only to of sustainably-focused significant in as positioned I’ve industry’s stakeholders our carbon-constrained it we
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carbon climate the climate the for a Whether solar align well emissions. occurring market calling technology, Carbon address targets reduction the administration continues has vehicles, priority. essential market. and that include GHG that this in GHG Union, have the responsible in positioned Biden Alcoa U.S., and change important being or including While XX targets transition an the low-carbon for of it’s reduction and for the to scheduled aluminum EU for well in fill demand jurisdictions, lower wind aluminum place Paris XX initiatives change European in or either emissions of are top specific is we countries and for needs And making implementation Canada or are develop, pledges. positioned panels China. net greenhouse gas zero are and assurances now that here who the global the turbines, in And society customers we’re accord, place with working production. pricing electric control battery a global products material to is economies climate to
working made of run operating full achieve of them. have Alcoa, on relentless on set year Last impressed aggressive new am first by delivered the $XX tremendous I I business. goals, savings. Next, When employees. rate to stretch annual we global progress which our million our we’ve our was reinforce model, within we a It further we streamlined team year an in to improvement. focus the At a priorities. continuous strategic want
well before the completed this time the for system and can a well Importantly, and future. that can designed work as action pandemic, performed this working crisis we in in that we place the demonstrates fully we count fact We had now of so that effectively. a
of have achieved goal billion $X assets. $XXX We between our also of million noncore generating the and from sale
Warrick year last we’ve With end of Springs the Gum towards sale this the top and the last completed finishing mill rolling program, target. the sale month,
with our the are solution. the our note an continue important in year clarity our program, government-owned for were closures to and Australian the Spanish improvement, Finally, curtailments, in as we’ve will the pursue It’s month, the with or good to in the federal the the with Spain. continue for review, on we opportunities government power we other progress in that we collaboration stakeholders San divestitures. of that of state to government Also, significant second complied we’re smelter the We’ve workers’ made multiple agreements smelter. as portfolio in and with review entity. We power reach now to for includes portfolio the sales Last best possible us new solutions and the provide which faith communities appreciate to to and five-year agreement Ciprián with work smelter’s improve happy expeditiously Portland Aluminium representatives stakeholders. with working to help We this employees, to working exclusive competitiveness. agreed generators, find in all Victoria, process for work
leave with points Finally, today. your as to emphasize want we prepare three I to to questions, take major you
allocation our Bill interest as with net is flexibility our reducing due and in balance foreseeable no numerous significant our within we’ve detailed, debt framework. With outlays on debt hand, off improved actions liability, including cash which future First, taken, pension rate our to and cash solid capital much the due have has we higher position. major sheet greater the net paying
key delivered Company term. have long that improved the strategic this on our on for we’ve actions Second, components some
be cycles. through improving that exactly market so successful all We’re doing Alcoa what we’ve can said,
consistent will continue way. the improvements. Alcoa for to drive That’s We
with to the pursuit operational best-in-class continued comprehensive portfolio aluminum working define processes excellence. industry, Third, we metal, and low-carbon the it in the most sustainable from of to are means company products a what to mine be
act with for to with care continue integrity, operate excellence will people. and We
welcome our advance for And questions. aligns and ready this too including to Thanks our priorities, All attention. Bill work of with your now are strategic your sustainably. Operator? to I
