What are the key conditions and timeline for Slovalco’s aluminum smelter revival in Slovakia?

Slovakia will begin switching on furnaces at Slovalco’s aluminum smelter around the turn of August and September, with output expected to start during the fourth quarter of 2026; the revival is enabled by a new state-aid scheme financed from emissions allowance revenue (not taxpayer funds), a 10-year electricity-supply agreement with state-owned Vodohospodarska Vystavba, and €100 million in company investment.

Why was the Slovalco smelter shut down in 2022, and how does the Slovak government link its closure to broader EU policy concerns?

The plant was idled in 2022 due to surging European power prices and carbon costs, which plunged the region’s aluminum industry into crisis; Prime Minister Robert Fico explicitly ties the shutdown to EU climate policies that raised costs and undercut industrial competitiveness, calling Slovalco’s case a 'textbook example of what overly ambitious climate goals are doing to the Slovak industry' and noting its prior contribution of 17% of the EU’s aluminum production and the resulting increased reliance on Chinese imports.

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