Alumina Limited: Difference between revisions
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{{Infobox |
{{Infobox company |
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| company_name = Alumina Limited |
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|name = |
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| company_logo = [[Image:Alumina Limited.svg|200px]] |
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|traded_as = {{ASX|AWC}} |
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| company_type = [[Public company|Public]] ({{asx|AWC}} {{nyse|AWC}}) |
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|logo = Alumina Limited.svg |
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| foundation = 2003 |
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|former_name = |
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| location = [[Southbank, Victoria]] |
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|industry = [[Mining]] |
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| key_people = |
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|predecessor = [[WMC Resources|Western Mining Corporation]] |
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|foundation = 11 December 2002 |
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| industry = |
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|founder = |
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| products = |
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|defunct = |
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|location_city = [[Melbourne]] |
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|location_country = Australia |
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|key_people = W Peter Day (Chairman)<br>Mike Ferraro (Managing Director) |
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| parent = |
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|products = [[Aluminium]], [[bauxite]] |
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| subsid = |
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|revenue_year = |
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| footnotes = |
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| intl = yes |
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|income_year = |
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}} |
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|net_income_year = 2020 |
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'''Alumina Limited''' |
'''Alumina Limited''' is an Australian [[holding company]]. [[Corporate spin-off|Spun off]] from [[WMC Resources|Western Mining Corporation]] in 2002, its sole asset is a 40% shareholding in [[Alcoa World Alumina & Chemicals]]. |
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==History== |
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Alumina's only business activity is as the owner of a 40% share in a joint venture with [[Alcoa]] called '''Alcoa World Alumina and Chemicals''', abbreviated to AWAC. AWAC's business is the mining of [[bauxite]], the extraction of [[alumina]] (aluminium oxide) and the smelting of pure [[aluminium]]. It has about 17% of the global alumina market. Alcoa owns the remaining 60% of the business and acts as day-to-day manager. |
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Alumina was founded in December 2002 when [[WMC Resources|Western Mining Corporation]] [[Corporate spin-off|spun off]] its [[aluminium]] and [[bauxite]] assets.<ref>[https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=text&issuerId=1384&announcementId=720831&documentDate=2002-12-02&documentNumber=198674 Demerger effective following court appeal] [[WMC Resources|Western Mining Corporation]] 3 December 2002</ref> |
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Alumina's only business activity is as the owner of a 40% share in [[Alcoa World Alumina & Chemicals]] (AWAC), a joint venture with [[Alcoa]]. |
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In Australia, AWAC trades as '''Alcoa of Australia''' (AoA), which owns two [[bauxite]] mines and three [[refinery|refineries]] (to extract aluminium oxide from bauxite) in [[Western Australia]] and owns a [[smelter]] (to extract pure aluminium metal) and has a controlling interest in another in [[Victoria (Australia)|Victoria]]. |
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AWAC owns two bauxite mines and three [[Refining (metallurgy)|refineries]] (to extract aluminium oxide from bauxite) in [[Western Australia]] and owns a [[smelter]] (to extract pure aluminium) and has a 55% interest in the [[Portland aluminium smelter]]. AWAC also operates and has interests in Brazil, Guinea, Saudi Arabia and Spain.<ref>[https://www.asx.com.au/asxpdf/20210331/pdf/44v4m2fls8v9kj.pdf Annual Report for year ended 31 December 2020] Alumina</ref> |
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In 2016, Alumina Limited achieved great short term authority over its interest in AWAC with more influence over a broader suite of operational and investment decisions.<ref>[https://www.afr.com/opinion/alumina-gets-a-win-for-the-mouse-that-roared-20160902-gr73to Alumina gets a win for the mouse that roared] AFR 2 September 2016</ref> |
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AWAC also has operations or interests in [[Texas]], [[Suriname]], [[Jamaica]], [[Brazil]], [[Spain]], [[Guinea]], and owns '''Alcoa Steamship'''. |
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Having been a [[dual-listed company]] with shares on both the [[Australian Securities Exchange]] (ASX) and [[New York Stock Exchange]] (NYSE), in February 2014 Alumina delisted from the NYSE, consolidating on the ASX.<ref>[https://www.aluminalimited.com/uploads/ASX-announcement-2014-06-NYSE-Delisting_1.pdf Alumina Limited Delisting Information] Alumina</ref><ref>[https://www.asx.com.au/asxpdf/20140206/pdf/42mksr0xwlsn08.pdf Alumina Limited to delist from NYSE] Alumina 6 February 2014</ref> |
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Alumina's [[Chief Executive Officer]] is John Bevan and the board is chaired by Donald Morley. |
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Given that the management of Alumina's assets is performed entirely by other companies, their extensive governance structure and regular board meetings have attracted adverse comment. Internet publication [[Crikey]] describe Alumina's board as "corporate Australia's cosiest and most expensive lunch club" <ref>[http://www.crikey.com.au/2006/03/24/the-lunch-club-continues-at-alumina/ The lunch club continues at Alumina]</ref>. |
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==See also== |
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* [[Alcoa]] |
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* [[Aluminium oxide]] |
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* [[Alumina]] |
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* [[List of Alumina Refineries]] |
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* [[List of aluminium smelters]] |
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==References== |
==References== |
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{{reflist}} |
{{reflist}} |
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==External links== |
==External links== |
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*[http://www.aluminalimited.com Company website] |
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{{Mining companies of Australia}} |
{{Mining companies of Australia}} |
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[[Category: |
[[Category:Aluminium companies of Australia]] |
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[[Category: |
[[Category:Companies based in Melbourne]] |
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[[Category:Companies formerly listed on the New York Stock Exchange]] |
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[[Category:Companies listed on the Australian Securities Exchange]] |
[[Category:Companies listed on the Australian Securities Exchange]] |
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[[Category: |
[[Category:Dual-listed companies]] |
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[[Category: |
[[Category:Holding companies of Australia]] |
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[[Category: |
[[Category:Non-renewable resource companies established in 2002]] |
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[[Category:2002 establishments in Australia]] |
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[[de:Alumina (Unternehmen)]] |
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[[fr:Alumina]] |
Latest revision as of 09:39, 11 April 2024
ASX: AWC | |
Industry | Mining |
Predecessor | Western Mining Corporation |
Founded | 11 December 2002 |
Headquarters | , Australia |
Key people | W Peter Day (Chairman) Mike Ferraro (Managing Director) |
Products | Aluminium, bauxite |
$147 million (2020) | |
Subsidiaries | Alcoa World Alumina & Chemicals (40%) |
Website | www.aluminalimited.com |
Alumina Limited is an Australian holding company. Spun off from Western Mining Corporation in 2002, its sole asset is a 40% shareholding in Alcoa World Alumina & Chemicals.
History
[edit]Alumina was founded in December 2002 when Western Mining Corporation spun off its aluminium and bauxite assets.[1]
Alumina's only business activity is as the owner of a 40% share in Alcoa World Alumina & Chemicals (AWAC), a joint venture with Alcoa. AWAC owns two bauxite mines and three refineries (to extract aluminium oxide from bauxite) in Western Australia and owns a smelter (to extract pure aluminium) and has a 55% interest in the Portland aluminium smelter. AWAC also operates and has interests in Brazil, Guinea, Saudi Arabia and Spain.[2]
In 2016, Alumina Limited achieved great short term authority over its interest in AWAC with more influence over a broader suite of operational and investment decisions.[3]
Having been a dual-listed company with shares on both the Australian Securities Exchange (ASX) and New York Stock Exchange (NYSE), in February 2014 Alumina delisted from the NYSE, consolidating on the ASX.[4][5]
References
[edit]- ^ Demerger effective following court appeal Western Mining Corporation 3 December 2002
- ^ Annual Report for year ended 31 December 2020 Alumina
- ^ Alumina gets a win for the mouse that roared AFR 2 September 2016
- ^ Alumina Limited Delisting Information Alumina
- ^ Alumina Limited to delist from NYSE Alumina 6 February 2014
External links
[edit]- Aluminium companies of Australia
- Companies based in Melbourne
- Companies formerly listed on the New York Stock Exchange
- Companies listed on the Australian Securities Exchange
- Dual-listed companies
- Holding companies of Australia
- Non-renewable resource companies established in 2002
- 2002 establishments in Australia