South32
Alcoa prices $2.6b senior notes for South32 bauxite, alumina and aluminium deal
Alcoa Corporation has set the price for a USD 2.6 billion senior notes offering to help finance the cash consideration for its proposed acquisition of South32’s bauxite, alumina, and aluminium assets . Along with the cash on hand, this debt is expected to provide permanent funding for the approximately USD 3.1 billion cash part of the transaction. The offering consists of USD 1.5 billion of 6.63 per cent Senior Notes due in 2034, to be issued by Alumina Pty Ltd, and USD 1.1 billion of 6.88 per cent Senior Notes due in 2036, issued by Alcoa Nederland Holding BV. Both of these companies are fully owned by Alcoa. The notes will be backed by Alcoa and some of its subsidiaries on a senior unsecured basis. The deal is expected to finalise on September 23, 2026, depending on usual closing...
Alcoa strikes $3.1b cash-and-stock deal for South32’s key aluminium assets
Alcoa Corporation is acquiring South32’s key aluminium assets in a USD 3.1 billion deal in cash plus 17,008,960 Alcoa shares, expanding its upstream aluminium portfolio across Australia, Brazil and South Africa. The transaction will also give South32 and its shareholders an equity interest in the enlarged Alcoa business, while backing South32’s broader shift towards copper and other base metals. The update follows Alcoa’s decision to acquire South32’s aluminium value-chain assets with an implied enterprise value of up to USD 5.6 billion. Under the proposed transaction, South32 will initially receive about 6 per cent of Alcoa’s outstanding common stock. At least half of these shares are expected to be distributed to South32 shareholders through an in-specie dividend. Depending on South32’s...
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ALUMINIUM 2026
15th International Bauxite, Alumina & Aluminium Conference & Exhibition - IBAAS–VFMSTA 2026
ICSOBA 2026 - 44th International Conference and Exhibition
ALUMINIUM 2026
15th International Bauxite, Alumina & Aluminium Conference & Exhibition - IBAAS–VFMSTA 2026
ICSOBA 2026 - 44th International Conference and Exhibition
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Alcoa files SEC registration for $5.6b South32 alumina, aluminium and bauxite asset deal
Alcoa has moved its proposed acquisition of South32's bauxite, alumina and aluminium interests forward with a US SEC filing, with the transaction carrying an implied enterprise value of up to USD 5.6 billion. Alcoa Corporation has filed a Form S-4 registration statement with the US Securities and Exchange Commission (SEC) in connection with its proposed acquisition of South32 Limited's interests across the bauxite, alumina and aluminium value chain. Under the transaction agreed on June 30, 2026, Alcoa will pay South32 USD 3.1 billion in upfront cash and about USD 1.0 billion in Alcoa shares, while also assuming around USD 750 million in net debt and lease liabilities. A further USD 750 million in contingent cash consideration could become payable depending on alumina and aluminium prices...
South32 aluminium FY2026: Hillside delivers, Brazil recovers, Worsley takes price hit
South32 delivered a stronger FY26 financial performance , with underlying revenue rising 7 per cent to USD 8.11 billion, reinforced by higher commodity prices and stronger operating performance. Within its aluminium portfolio, Brazil Aluminium and Hillside Aluminium recorded significant earnings improvements. The year also marked a strategic turning point, with South32 agreeing to sell most of its aluminium value chain assets to Alcoa for up to USD 5.6 billion. CEO Matt Daley stated, “Strong operating performance coupled with commodity price tailwinds underpinned one of the best financial results in our history, with Group Underlying EBITDA increasing by 28 per cent to USD 2.5 billion and Underlying earnings increasing by 55 per cent to USD billion.” Explore- Most comprehensive and...
Alcoa-Hillside deal supports South Africa’s aluminium industry growth ambitions
Alcoa’s proposed acquisition of South32’s aluminium assets in Australia, Brazil and South Africa is an important development for the global aluminium industry, particularly for South Africa’s primary aluminium production. Aluminium Federation of South Africa (AFSA) CEO, Muzi Manzi, said, “On July 1, South32 signed a binding conditional agreement to sell its aluminium value chain assets…to US-based Alcoa.” The deal was valued at up to USD 5.6 billion and included the Hillside Aluminium smelter in Richards Bay. The transaction is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. For South Africa, the key point is Hillside. The smelter is the country’s only primary aluminium smelter. Alcoa has said that its acquisition will keep Hillside operating...
Mozal aluminium shutdown cuts 30% of South32 output, triggers $117m charge
South32 has recognised exceptional costs of USD 117 million after the closure of its Mozal aluminium smelter in Mozambique , as an unresolved power deal impasse with the Mozambican government keeps operations stalled. The Mozal smelter, one of Africa’s largest aluminium producers with a 560,000-tonne annual capacity, entered care and maintenance on March 15 after negotiations over electricity tariffs failed. South32 has maintained that aluminium production is no longer commercially viable under the current power pricing structure, with electricity accounting for the plant’s highest operating cost. Explore: The most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Report Mozal, a USD 2 billion...
Alcoa's $4b Q2’26: Portland smelter restart lifts aluminium output and earnings
Alcoa Corporation has reported its strongest quarterly revenue to date, backed by the successful restart of capacity at its Portland aluminium smelter in Victoria, Australia, higher aluminium prices and increased shipments. The second quarter (Q2) also marked a milestone with Alcoa’s acquisition of South32 's bauxite, alumina and aluminium assets, consisting of the Worsley Alumina operation in Western Australia. Commenting on the quarter, Alcoa President and Chief Executive Officer William Oplinger stated, "During the second quarter, in addition to delivering strong financial results that captured favourable aluminium prices, our team executed on strategic initiatives, most notably the announced agreement with South32." Explore the relevance of red mud in the sustainable aluminium...
South32 FY26: Brazil aluminium output rises 4%; Worsley alumina holds steady; Mozal pauses
Australia-based mining and metals company South32 released its financial report for the June quarter 2026 (Q4) and the FY2026 annual performance, delivering a mixed operational performance across its aluminium portfolio during FY2026. Higher year-on-year production from Brazil Alumina and Brazil Aluminium (despite its weak quarter-on-quarter output) offset softer sales at several operations and the suspension of production at Mozal Aluminium. Worsley Alumina maintained stable production levels. South32 CEO Matt Daley stated, “On 1 July, we announced a step change for South32, with the sale of our aluminium value chain business to Alcoa. Once complete, this sale will unlock significant value for shareholders and reposition South32 as a leading upstream base metals-focused company.” Explore...
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