DAMMAM: Aluminium Bahrain (Alba), owner of one of the world’s largest smelters of the lightweight metal, said it would hit its target to cut cash costs by $150 a ton by January and is looking to trim further.

The company started the two-year project to cut its cash costs in 2013, the company’s CEO Tim Murray told an industry conference.

“We are ahead of the curve in terms of cost-cutting,” he said.

“We will reach target by January 2016 but we need a lot more.”

At the same time, Alba’s expansion plans were on track, Murray said.

“Everything is going as planned for line 6,” he said.

Alba received government approval in June for the new line which is set to increase its annual output by 514,000 tons to 1.45 million tons.

Benchmark aluminum on the London Metal Exchange is hovering around six-year lows, mostly due to a global surplus of the metal.