Alcoa agrees to acquire South32 aluminum assets, expanding its upstream footprint

Alcoa has agreed to acquire South32’s bauxite, alumina and aluminum assets for an implied enterprise value of up to $5.6 billion, adding major operations in Australia, Brazil and South Africa.

The binding agreement covers South32’s 86% interest in the Worsley Alumina joint venture in Western Australia, including the Boddington bauxite mine, 100% of the Hillside Aluminium smelter in South Africa, a 33% interest in the Mineração Rio do Norte (MRN) bauxite mine in Brazil, a 36% interest in the Alumar alumina refinery and a 40% interest in the Alumar aluminum smelter.

Nicholas Bell

Nicholas brings over half a decade of experience covering metals markets, pricing trends, and supply chain dynamics. Prior to joining AMU, he reported on aluminum, high-temperature scrap, and ferro-alloy markets at Argus Media, with additional coverage of minor metals and rare earths. His work has built deep expertise in North American metals pricing and trade flows. A native of Houston, Nicholas holds a bachelor’s degree in Media Production and an MBA with a concentration in Finance, both from the University of Houston.