Alumina Limited
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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]
References
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- ↑ 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
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External links
- Pages with script errors
- Aluminium companies of Australia
- Companies based in Melbourne
- Companies formerly listed on the New York Stock Exchange
- Companies formerly listed on the Australian Securities Exchange
- Holding companies of Australia
- Non-renewable resource companies established in 2002
- 2002 establishments in Australia
- 2024 mergers and acquisitions
- Former cross-listed companies