Alumina Limited is an Australian holding company. Spun off from Western Mining Corporation in 2002, its sole asset is a 40% shareholding in Alcoa World Alumina & Chemicals. In 2024, Alcoa acquired Alumina for US$2.2 billion.
History
Alumina was founded in December 2002 when Western Mining Corporation spun off its aluminium and bauxite assets.[1]
Alumina's only business activity is as the owner of a 40% share in Alcoa World Alumina & Chemicals (AWAC), a joint venture with Alcoa. AWAC owns two bauxite mines and three refineries (to extract aluminium oxide from bauxite) in Western Australia and owns a smelter (to extract pure aluminium) and has a 55% interest in the Portland aluminium smelter. AWAC also operates and has interests in Brazil, Guinea, Saudi Arabia and Spain.[2]
In 2016, Alumina Limited achieved great short term authority over its interest in AWAC with more influence over a broader suite of operational and investment decisions.[3]
Having been cross-listed on both the Australian Securities Exchange (ASX) and New York Stock Exchange (NYSE), Alumina delisted from the NYSE in February 2014, consolidating on the ASX.[4][5]
In February 2024, Alcoa announced it would acquire Alumina for $2.2 billion in an all-stock deal. As part of the deal Alcoa would gain full ownership of AWAC.[6] The acquisition was completed in August.[7]
External links
References
- Demerger effective following court appeal Western Mining Corporation 3 December 2002^
- Annual Report for year ended 31 December 2020 Alumina^
- Alumina gets a win for the mouse that roared AFR 2 September 2016^
- Alumina Limited Delisting Information Alumina^
- Alumina Limited to delist from NYSE Alumina 6 February 2014^
- Melanie Burton, Eccha Jain. US aluminium maker Alcoa makes $2.2 billion offer for Australia's Alumina Reuters, 26 February 2024^
- Kelsie Tibben. Alcoa officially acquires Alumina Australian Mining, 1 August 2024^