The decision on what to do about Alcoa's (NYSE:AA) bid to renew its federal license to operate four dams in North Carolina will be made sometime this week.
This is a big deal for Alcoa, as it generates about $40 million in revenue annually from managing the dams, and it would be a blow at a time when aluminum demand has fallen, along with aluminum prices.
At this time the attempt by North Carolina to stop Alcoa from being re-licensed looks weakened, as the idea of creating a public trust to manage the Yadkin River, which the dams are located on, doesn't look like it's going to happen.
Alcoa's Bill O'Rourke said this concerning the company's management of the dams, "We believe we've cleaned that up. We're proud of our clean-up record."
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