News and Opinion: August 22, 2022. Zinc and Aluminum Smelters Starting to Close in Europe

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The energy crisis in Europe is starting to affect industries. For example, the aluminum and zinc smelting is already getting affected.

In order to produce 1 ton of aluminum, 14 MWh of electricity (or its equivalent) is needed. This is enough to run an average house in the United Kingdom for 3 years. The amount of electricity (or its equivalent) to produce 1 ton of zinc is 4 MWh.

Slovalko (an aluminum smelter in Slovakia) and Budel (a zinc smelter in the Netherlands have announced suspensions in operations, largely because the cannot operate at a loss with such energy intensive smelting requirements.

Europe has done this to itself. One more step towards the deindustrialization of Europe.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
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