South32 operates Mozal Aluminum in Mozambique which is currently on care and maintenance. The smelter was not part of South32'a plans to sell its aluminium businesses to US group Alcoa.
South32 plans to sell its aluminium value chain assets to US-based Alcoa Corporation for an implied enterprise value of up to $5,6 billion (R92,05 billion).
South32, the JSE and Australia-listed global resources group which owns the Hillside aluminium smelter in Richards Bay and the Mozal aluminium smelter in Mozambique (which is currently on care and maintenance), announced on Wednesday that Alcoa will also assume related rehabilitation provisions of $1,2 billion.
Alcoa will acquire South32's interests in Worsley Alumina (86%), Hillside Aluminium (100%), MRN bauxite (33%), Brazil Alumina refinery (36%), and Brazil Aluminium smelter (40%) under the transaction.
Mozal Aluminium is excluded from the transaction and remains on care and maintenance, with divestment under active consideration.
