Who we are

Alumina Limited is a leading Australian company listed on the Australian Securities Exchange (ASX) and the Over-the-Counter (OTC) market in the U.S. Alumina Limited represents a unique investments in globally leading bauxite mines and alumina refineries through its 40% investment in Alcoa World Alumina and Chemicals (AWAC). AWAC also has a 55% interest in the Portland aluminium smelter in Victoria Australia.

Strategy
Our strategy is to invest world-wide in bauxite mining, alumina refining and selected aluminium smelting operations through our 40% ownership of Alcoa World Alumina & Chemicals (AWAC), the western world's largest alumina business. Our partner, Alcoa, owns the remaining Of AWAC managers the day-to-day operations.

The AWAC joint venture was formed in 1994 and our partnership with Alcoa dates back to 1961.

Alumina Limited is primarily focused on investing in long-life, low cost bauxite and alumina assets. Alumina does this currently through the AWAC joint venture. Alumina Limited is a leading Australian resource company with a specific focus on alumina, the feedstock for aluminium smelting.

Alumina Limited is one of Australia’s top 100 companies, delivering strong returns, consistent performance and ongoing growth.

The business

AWAC employs over 6,000 people to mine and refine bauxite, who produce alumina, market the alumina to the world’s aluminium smelters and process a percentage of this alumina to produce aluminium metal.

AWAC has a global network of mines and alumina refineries in Australia, the Brazil, and Spain and also an interest in a smelter in Victoria Australia.

AWAC is also has a 25.1% interest in a bauxite mine and alumina refinery joint venture with Ma’aden in Saudi Arabia and an equity interest in non-AWAC operated bauxite mine at CBG (Guinea).

It is a low-cost producer and many of its operations are positioned in the lower-cost quartiles.

Background
Alumina Limited was created on 11 December 2002 when WMC Limited’s alumina assets were demerged from the nickel, copper and fertilizer businesses (WMC Resources Limited).

The demerger has enabled investors to benefit directly from the full value of the alumina and aluminium business.

Purpose and objectives
Alumina Limited has a small and focused management team. Their purpose is to deliver value to shareholders through:

Strategy

Strategic participation in the AWAC business with Alcoa

Market leadership

Maintaining AWAC’s position as market leader

Dividends

Paying substantial dividends to shareholders (with 100% of fully franked dividends received from Alcoa of Australia to be distributed as far as practicable)

Market value

Ensuring the value of the AWAC business is understood by the market and reflected in our share price
Facts and figures

Alumina Limited

Owns 40% of AWAC’s assets in Australia (known as Alcoa of Australia)

Owns 40% of the remaining AWAC assets around the globe

Trades on Australian Securities Exchange and the OTC Market in the United States

Top 100 Australian company (market capitalisation)

Has approximately 56,000 shareholders (July 2022)

Fact Sheet
Download our latest market information, contacts, key facts, etc. on our fact sheet.
More in Who we are
FREQUENTLY ASKED QUESTIONS
Back
  • What is Alumina Limited?
  • What is AWAC?
  • When was Alumina Limited formed?
  • Why did the AWAC partnership form?
  • Where is Alumina’s stock listed?
  • Does Alumina Limited have a Dividend Reinvestment Plan?
  • What is Alumina Limited’s financial year and when are its results announced?
  • What is Alumina Limited’s strategy?
  • What are Alumina’s values and its Code of Conduct?
  • Does Alumina Limited comply with the Australian Stock Exchange Principles of Good Corporate Governance and Best Practice Recommendations?
  • What accounting standards are applied by Alumina Limited in calculating the financial statements?
  • What is Alumina Limited's dividend policy?

What is Alumina Limited?

Alumina Limited is a leading Australian company listed on the Australian Stock Exchange (ASX) and the US Over-the-Counter (OTC) market. We invest worldwide in bauxite mining, alumina refining and selected aluminium smelting operations through our 40 per cent ownership of Alcoa World Alumina and Chemicals (AWAC), the world’s largest alumina business. Our partner, Alcoa, owns the remaining 60 per cent of AWAC, and is the manager. The AWAC joint venture was formed in 1994 and our partnership with Alcoa dates back to 1961.

What is AWAC?

Alcoa World Alumina and Chemicals (AWAC) is the one of the world’s largest producers of alumina and is a global joint venture between Alumina Limited and Alcoa. Alumina owns 40 per cent of AWAC, our joint venturer Alcoa is the enterprise manager and owns 60 per cent. AWAC global interests include 5 alumina refineries, 3 bauxite mines and 1 aluminium smelter. AWAC also has a 25.1% interest in a alumina refinery and bauxite mine developed with Ma’aden in Saudi Arabia that was commissioned in 2015 and also an equity interest in a bauxite mine in Guinea.

When was Alumina Limited formed?

Alumina Limited commenced as a standalone entity on 11 December 2002 when WMC Limited’s alumina assets were demerged from its nickel, copper and fertilizer businesses.

Why did the AWAC partnership form?

The origins of the Alcoa Worldwide Alumina and Chemicals (AWAC) partnership between Alcoa and WMC Limited (now Alumina Limited) began in the early 1960’s following the exploration and discovery of bauxite deposits and other resources by WMC Limited and two other Australian companies. The Aluminium Company of America (Alcoa) was invited to join the project to provide technology, aluminium expertise and finance. The venture formed Alcoa of Australia Ltd, an integrated aluminium company, in 1961 with WMC Limited holding a 20% interest and Alcoa a 51% interest.

Over the following years the venture grew to include refineries and smelter interests as the partners sought to take opportunities to expand the business. By 1990, WMC Limited’s interests in Alcoa of Australia had grown to 48.25% through acquiring the minority interests of other participants, other than Alcoa.

In July 1994, WMC decided to expand this interest as a worldwide bauxite, alumina and alumina-based chemicals enterprise.

WMC Limited and Alcoa combined their respective bauxite, alumina and alumina-based chemicals businesses and investments and some selected smelting operations to create Alcoa World Alumina and Chemicals (AWAC) in January 1995.

Where is Alumina’s stock listed?

Alumina Limited is listed on the Australian Securities Exchange (ASX) and also the OTC Markets in the US as an American Depositary Receipts (ADRs). Alumina’s ASX issuer code is AWC and the OTC ticker code is AWCMY.  Each ADR is the equivalent of 4 ordinary shares in Alumina Limited. Alumina’s stock commenced trading on 11 December 2002.

Does Alumina Limited have a Dividend Reinvestment Plan?

Alumina Limited does have a Dividend Reinvestment Plan (DRP). The Plan is currently suspended

What is Alumina Limited’s financial year and when are its results announced?

Alumina Limited’s financial year concludes on 31 December. Full Year results are generally released around mid-February. Half Year results are generally released in mid-August.

What is Alumina Limited’s strategy?

Alumina’s key strategy is, through AWAC:

  • to invest in and own and operate long-life, low cost bauxite and alumina assets, preferably large and able to be expanded and
  • for AWAC’s alumina to be priced off alumina’s fundamentals, in terms of supply and demand and construction and operating costs of alumina.

What are Alumina’s values and its Code of Conduct?

At Alumina Limited we have core values and supporting principles that guide the way we do things at Alumina. Those values underpin our policies, business practices, standards and corporate governance. The values have been adopted by the directors, management and staff of Alumina Limited and translate into our Code of Conduct.

Does Alumina Limited comply with the Australian Stock Exchange Principles of Good Corporate Governance and Best Practice Recommendations?

Yes

What accounting standards are applied by Alumina Limited in calculating the financial statements?

Since 31 December 2005 Alumina Limited’s financial statements have been prepared in accordance with Australian equivalents to International Financial Reporting Standards (A-IFRS), other authoritative pronouncements of the Australian Accounting Standards Board, Urgent Issues Group Interpretations and the Corporations Act 2001. Until to 31 December 2004 Alumina Limited’s financial statements had been prepared in accordance with previous Australian Generally Accepted Accounting Principles.

What is Alumina Limited's dividend policy?

Generally, the Board intends, on an annual basis, to distribute cash from operations after serving debt and corporate cost commitments have been met.  The Board will also consider the capital structure of Alumina Limited, the capital requirements for the AWAC business and market conditions.  Dividends will be fully franked for the forseeable future.