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.
 | |
| ASX: AWC | |
| Industry | Mining |
| Predecessor | Western Mining Corporation |
| Founded | 11 December 2002 |
| Headquarters | , Australia |
Key people | W Peter Day (Chairman) Mike Ferraro (Managing Director) |
| Products | Aluminium, bauxite |
| $147 million (2020) | |
| Parent | Alcoa |
| Subsidiaries | Alcoa World Alumina & Chemicals (40%) |
| Website | aluminalimited |
History
editAlumina 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 a dual-listed company with shares on both the Australian Securities Exchange (ASX) and New York Stock Exchange (NYSE), in February 2014 Alumina delisted from the NYSE, consolidating on the ASX.[4][5]
Alcoa announced it would acquire Alumina for $2.2 billion in an all-stock deal in February 2024. As part of the deal Alcoa would gain full ownership of AWAC.[6] The acquisition was completed in August.[7]
References
edit- ^ 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
- ^ Burton, Melanie; Jain, Eccha (26 February 2024). "US aluminium maker Alcoa makes $2.2 billion offer for Australia's Alumina". Reuters.
- ^ Tibben, Kelsie (1 August 2024). "Alcoa officially acquires Alumina". Australian Mining.