ALUMINUM OXIDE INDUSTRY – AUSTRALIA

Alumina bid gets the nod from expert

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Original article by Nick Evans
The Australian – Page: 19 : 12-Jun-24

An independent expert’s report from Grant Samuel has concluded that an all-scrip takeover offer for Alumina is ‘fair and reasonable’. Grant Samuel has indicated that Alcoa’s $4bn bid would deliver a substantial benefit for Alumina shareholders, who will control about 31.6 per cent of the merged group if the deal proceeds. However, the firm notes that Alumina shareholders will lose access to $493m worth of franking credits, although Alumina has not paid a dividend since June 2022. Shareholders are slated to vote on the deal in mid-July.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, GRANT SAMUEL AND ASSOCIATES PTY LTD

Alumina agrees to Alcoa’s takeover

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Original article by Chris Herde
The Australian – Page: 16 : 13-Mar-24

Alumina’s directors have recommended that shareholders should vote in favour of Alcoa’s $3.3bn takeover offer in the absence of a superior proposal. Alumina chairman Peter Day says the time is right to combine the two companies, which are joint venture partners in Alcoa World Alumina & Chemicals. Alumina’s 40 per cent stake in AWAC is its sole asset, and its shareholders will own about 31.6 per cent of the merged group. Alumina was founded in 2002 via the demerger of Western Mining Corporation’s aluminium and bauxite assets.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, ALCOA WORLD ALUMINA AND CHEMICALS

Alcoa chases Alumina for $3.4bn deal

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Original article by Nick Evans, Valerina Changarathil
The Australian – Page: 13 & 16 : 27-Feb-24

US-based Alcoa is offering 0.02854 of its shares for every share in Alumina Limited, its joint venture partner in the Alcoa World Alumina & Chemicals business. The all-scrip bid values Alumina at $US2.2bn ($3.4bn), and the offer represents a 13.1 per cent premium to Alumina’s last trading price. The bid has the support of Alumina’s board, as well as the target’s largest shareholder, Allan Gray Australia. China-based CITIC could potentially determine the outcome of the bid, given that it has a stake of about 19 per cent in Alumina.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, ALCOA WORLD ALUMINA AND CHEMICALS, CITIC LIMITED

Don’t politicise Kwinana closure: Alcoa

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Original article by Tom Rabe
The Australian Financial Review – Page: 8 : 17-Jan-24

Alcoa’s executive vice president Matt Reed has responded to criticism of the US-based company’s recent decision to close its Kwinana alumina refinery in Western Australia. Reed has cautioned against ‘politicising’ the decision, which will result in the loss of at least 750 jobs; he contends that federal and state government policies were not to blame for the plant’s closure, arguing that the decision was made due to "commercial realities". The cost of producing alumina at the 60-year-old Kwinana plant was about $410 per tonne in 2023, compared with around $250 per tonne at Alcoa’s two other refineries in WA.

CORPORATES
ALCOA INCORPORATED

Demerging Alcoa slams ‘opportunistic’ Alumina

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Original article by Barry FitzGerald
The Australian – Page: 22 : 10-Jun-16

Alcoa’s vice-president of investor relations, Matt Garth, has criticised Alumina over its attempt to use the US group’s proposed demerger to renegotiate the Alcoa World Alumina & Chemicals joint venture. Garth told investors and analysts in Sydney that Alumina is being "emotional and opportunistic", and rejected the Australian-listed company’s claim that it must agree to the Alcoa demerger under the terms of the AWAC agreement. He added that Alcoa is confident that a court will rule in its favour.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, ALCOA WORLDWIDE ALUMINA AND CHEMICALS, MORGAN STANLEY AUSTRALIA LIMITED, ALLAN GRAY AUSTRALIA PTY LTD

Aussie miner accused of menacing US giant Alcoa on demerger plan

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Original article by John Kehoe
The Australian Financial Review – Page: 8 : 30-May-16

US aluminium giant Alcoa has launched legal action against Australian-listed Alumina, its partner in the Alcoa World Alumina & Chemicals joint venture. The dispute centres on Alcoa’s proposal to demerge its upstream and downstream assets. The former will hold Alcoa’s 60 per cent stake in AWAC if the deal proceeds. Alcoa’s lawsuit alleges that the joint venture agreement does give Alumina the right to block the demerger.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, ALCOA WORLDWIDE ALUMINA AND CHEMICALS

Alcoa’s turnaround a shot in the arm for Alumina

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 14-Jan-15

The stock of Alumina on 13 January 2015 closed 4.2% higher at $A1.96. The reason was the release in the US by partner Alcoa of its profit data for calendar 2014. It recorded a fourth-quarter net earnings result of $US159m ($A194m) and a full-year one of $US268m, which were recoveries from the previous year’s losses of $US268m and $US2.3bn respectively. Alcoa manages and holds 60% of the Alcoa World Alumina & Chemicals business, and Alumina’s sole asset is a stake of 40% in that enterprise

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED – ASX AAI, ALCOA WORLDWIDE ALUMINA AND CHEMICALS, CITIGROUP PTY LTD