The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) with Alumínio Brasileiro S.A. (ALBRAS), MUFG Bank, Ltd., Nippon Amazon Aluminium Co., Ltd. (NAAC), and Nippon Export and Investment Insurance (NEXI) to promote cooperation in the field of low-carbon aluminum.
ALBRAS is an aluminum smelting company in which Norsk Hydro ASA holds a 51% stake and NAAC holds a 49% stake. Japan relies solely on imports for primary aluminum, and ALBRAS is one of the important low-carbon aluminum suppliers for Japan. NAAC imports some of the low-carbon aluminum that ALBRAS produces using electricity from renewable energy sources in the state of Pará in northern Brazil.
By signing the MOU with ALBRAS, MUFG, NAAC, and NEXI, JBIC will promote information exchanges among the parties. For example, from the viewpoint of enhancing supply chain resilience and promoting decarbonization, they will share the recognition of the strategic importance of low-carbon aluminum to Japan. Additionally, with the aim of ensuring a long-term stable supply of low-carbon aluminum to Japan, they will consider the possibility of supporting the potential funding needs of ALBRAS.
As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthened cooperation with important partners in the mineral resources sector.
