Posts Tagged ‘Leon Black’

Noranda Aluminum is AmerenUE’s biggest industrial customer, running a mammoth aluminum smelter in New Madrid, Mo.  Noranda is also paying the lowest rate per kilowatt hour for power of any AmerenUE customer – several cents per kwh less than the poorest residential ratepayer in our town.  The company is part of the combine of large industrial customers now fighting AmerenUE’s rate increase proposal at the Missouri Public Service Commission with lots of hand-wringing about how they are on the ropes financially.  Interesting?  Leon Black, CEO of Noranda Aluminum’s holding company, Apollo Global Management LLC reportedly plunked down $47.6 million for Raphael’s drawing, “Head of a Muse,” at Christie’s in London, setting an auction record for a work on paper. Noranda also recently bought about $250 million in mines. So, Noranda continues its fight against a rate increase in Stoddard County and will likely push legislation that limits what it will pay – on the back of residential and small business customers.