The Alcoa World Alumina and Chemicals (AWAC) partnership between Alumina Limited and Alcoa Inc. was first created in 1995.
The partnership was formed from the combining of WMC Limited's (now Alumina Limited) and Alcoa Inc.'s worldwide bauxite, alumina and alumina-based chemicals businesses and investments and some selected aluminium smelting operations. The resultant joint venture is known as Alcoa World Alumina and Chemicals (AWAC).
Alumina Limited owns 40 per cent of AWAC and Alcoa Inc. owns the remaining 60% and is the manager/operator of AWAC's operations.
The partnership is governed by the AWAC Agreements and the Strategic Council with each partner having proportional representation (Alumina Limited 2 members and Alcoa 3 members).