Alcoa (NYSE:AA) Expanding Bauxite Production at Juruti Mine

Alcoa Inc. (NYSE:AA) says it has plans to increase bauxite production at its Juruti mine in the Amazon in 2011.

Production at the mine began in June 2009, with the capacity to product 2.6 million tons of bauxite a year. After the immediate expansion, expectations are production will increase to 3.3 million metric tons a year in the short term.

As studies continue on, expansion in the long term should result in capacity at Juruti reaching 6 million tons of bauxite a year, according to Juruti's geological expert Clodoaldo Castro

Alcoa closed Friday at $13.17, dropping $0.14, or 1.05 percent.