- Business
- Alumina Limited (ASX: AWC), headquartered in Southbank, Australia, and founded in 2002 as a demerger from Western Mining Corporation, serves as an investment entity focused on the global aluminum industry through its 40% interest in Alcoa World Alumina and Chemicals (AWAC); AWAC operates an international network of bauxite mines and alumina refineries in Australia, the United States, Brazil, Suriname, Spain, Guinea, and Saudi Arabia, producing approximately 10% of the world's alumina supply while also holding a 55% interest in the Portland aluminum smelter in Victoria, Australia, and engaging in aluminum smelting activities. The company targets industrial customers in the aluminum and chemicals sectors with its low-cost bauxite mining, alumina refining, and related products. In August 2024, Alcoa Corporation completed its acquisition of Alumina Limited in an all-stock transaction valued at approximately $2.2 billion, under which Alumina shareholders received 0.02854 Alcoa shares per Alumina share in the form of CHESS Depositary Interests (CDIs) traded on the ASX under ticker AAI, enhancing Alcoa's position as a leading global supplier of bauxite and alumina with simplified governance and increased operational flexibility.