Glencore, Mercuria in Talks with Venezuela on Potential Deal for Venalum Aluminum Smelter

Published: Sep 14, 2026 09:06

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[SMM Aluminum Express News] Glencore and Mercuria are separately in talks with the Venezuelan government over a potential deal involving state-owned Venalum, the country’s largest primary aluminum smelter. The discussions could involve operating the smelter and securing access to its aluminum output, although the exact structure remains unclear and no final agreement has been reached. Mercuria is reportedly pursuing the opportunity together with mining investment firm Heeney Capital. Venalum, located in Bolívar state, has nameplate capacity of around 430,000 tonnes of primary aluminum per year but has operated well below capacity after years of underinvestment and electricity shortages. A deal could therefore support rehabilitation and higher Venezuelan aluminum production, although the scale and timing of any restart or production increase have not been disclosed.

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