May 20 (Reuters) - Alumina Ltd AWC.AX :
* FINANCIAL PERFORMANCE IN Q1 OF 2020 WAS POSITIVE
* SAYS AWAC 'S SUSTAINING CAPITAL REQUIREMENTS HAVE INCREASED IN 2020
* ALUMINA PRICES ONLY NEGATIVELY AFFECTED BY COVID-19 TOWARDS END OF QUARTER
* BOARD TO CLOSELY REVIEW CIRCUMSTANCES IN DETERMINING DIVIDENDS AND DEBT LEVELS FOR 2020
* PORTLAND SMELTER IN VICTORIA HAS POWER AGREEMENTS IN PLACE TO OPERATE UNTIL AT LEAST MID-2021
* AWAC INTEREST IN PORTLAND SMELTER WILL BE A FOCUS FOR CO OVER NEXT YEAR
* AWAC HAS PUT ON HOLD ALL GROWTH CAPEX FOR REST OF 2020, REDUCING SPEND BY ABOUT $30 MILLION
* STILL FINANCIALLY VIABLE FOR SMELTERS TO PRODUCE ALUMINIUM & STORE IT IN WAREHOUSES WITH FORWARD SALES
* LOWER INPUT COSTS ARE DRIVING REDUCTION IN GLOBAL ALUMINA PRODUCTION COSTS IN 2020
* FURTHER MEASURES TO REDUCE WORKING CAPITAL AND OVERHEADS ARE ALSO IN PLACE
* ON ALUMINA, AWAC CASH COST OF PRODUCTION FOR Q1 OF 2020 WAS $199/TONNE
* SUSTAINING CAPEX FOR AWAC REFINERIES EXPECTED TO BE ABOUT $90 MILLION IN 2020
* IMPACTS ON ALUMINIUM & ALUMINA INDUSTRY FROM COVID 19 MAY BE AS PROFOUND AS GLOBAL FINANCIAL CRISIS OR MORE SO
* TARGETING TO REDUCE EMISSIONS FROM REFINERIES FROM CURRENT LEVELS BY ABOUT 12% BY 2030