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Alcoa to acquire most of Australian mining giant South32’s aluminum assets for $5.6 billion

MarsBitNews
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Mars Finance News, July 1—South32, an Australian mining giant, said on Wednesday that it has agreed to sell most of its aluminum assets to Alcoa Corporation, with an implied enterprise value of up to $5.6 billion. The diversified mining company said the move is intended to simplify its business. Under the agreement, Alcoa Corporation will acquire South32’s stakes in the Worsley Alumina plant in Australia, the Hillside Aluminium plant in South Africa, the MRN bauxite mine in Brazil, the Brazilian alumina refining plant, and the Brazilian aluminum smelting plant. South32 added that Alcoa Corporation will also assume approximately $1.2 billion in cleanup and site-closure costs related to these assets. The transaction is expected to be completed in the second half of 2027. (Wide Angle Observation)
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