Alumina Limited: Difference between revisions
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{{Use dmy dates|date=November 2019}} |
{{Use dmy dates|date=November 2019}} |
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{{Infobox company |
{{Infobox company |
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|logo = Alumina Limited.svg |
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| logo_size = 200px |
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|former_name = |
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| type = [[Public company|Public]] |
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|industry = [[Mining]] |
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|predecessor = [[WMC Resources|Western Mining Corporation]] |
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| foundation = 2003 |
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|foundation = 11 December 2002 |
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| location = [[Southbank, Victoria|Southbank]], [[Melbourne]], Victoria, Australia |
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|founder = |
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| key_people = |
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|location_city = [[Melbourne]] |
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| industry = |
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|location_country = Australia |
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| products = |
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|key_people = W Peter Day (Chairman)<br>Mike Ferraro (Managing Director) |
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|products = [[Aluminium]], [[bauxite]] |
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|revenue_year = |
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| parent = |
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| footnotes = |
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|net_income_year = 2020 |
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}} |
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'''Alumina Limited''' is |
'''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]]''' (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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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 Mike Ferraro and the board is chaired by Peter Day.<ref name="ASXAWCdetail">{{cite web |title=Alumina Limited Details |url=https://www.asx.com.au/asx/share-price-research/company/AWC/details |website=Australian Securities Exchange |accessdate=25 November 2019}}</ref> |
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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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Alumina Limited formally delisted from the 'New York Stock Exchange', prior to the opening of trading in February 2014. This was because they were already in an American Stock Exchange (OTC Markets Group). Hence they were only present in the Australian Stock Exchange (ASX). |
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<ref>[https://www.aluminalimited.com/uploads/ASX-announcement-2014-06-NYSE-Delisting_1.pdf Alumina Limited Delisting Information]</ref> |
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<ref>[https://www.aluminalimited.com/delisting-from-the-nyse/ Alumina Limited 2014-06 Delistment]</ref> |
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<ref>[https://www.google.com/search?q=OTCMKTS:AWCMF&tbm=fin#scso=uid_JXPiWsurF4qM8wWbk4KYCA_5:0]</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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==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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{{S&P/ASX 200}} |
{{S&P/ASX 200}} |
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[[Category:Aluminium companies of Australia]] |
[[Category:Aluminium companies of Australia]] |
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[[Category:Companies based in Melbourne]] |
[[Category:Companies based in Melbourne]] |
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[[Category: |
[[Category:Companies formerly listed on the New York Stock Exchange]] |
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[[Category:Dual-listed companies]] |
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[[Category:2002 establishments in Australia]] |
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