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South32 deal empowering Alcoa to surpass Rio Tinto as world’s biggest bauxite miner
With the acquisition of South32’s aluminium assets, Alcoa will surpass Rio Tinto to become the world's largest bauxite mining companies on an equity-attributable production basis, with global share rising from 8.5% to 13%, Wood Mackenzie reported on Thursday, July 2. In addition to South Africa's Hillside Aluminium smelter and the idled Bayside smelter property in KwaZulu-Natal province, Alcoa will acquire South32’s interests in the Boddington bauxite mine and the Worsley alumina refinery in Western Australia; and the Mineração Rio do Norte bauxite mine and the Alumar alumina refinery and aluminium smelter in Brazil.
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morningstar.com
Alcoa Announces Strategic Acquisition of South32’s Bauxite, Alumina, and Aluminum Assets for $4.1 billion
Alcoa Announces Strategic Acquisition of South32’s Bauxite, Alumina, and Aluminum Assets for $4.1 billion
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afr.com
South32 sells aluminium business to Alcoa in $8b deal
Graham Kerr’s final act as chief will see US giant Alcoa buy the miner’s Australian and Brazilian aluminium assets.
