South32 Shareholders Approve $5.6B Sale of Aluminum Assets to Alcoa

Published: Oct 15, 2026 16:30 (GMT+8)

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[SMM Aluminum Express News] South32 shareholders approve up to US$5.6 billion sale of aluminum assets to Alcoa. Australian mining company South32 announced on October 15 that shareholders approved the proposed sale of its aluminum value chain assets to Alcoa at its 2026 Annual General Meeting, marking a major milestone towards completing the transaction. The deal, valued at up to US$5.6 billion, covers South32's interests in Worsley Alumina and Hillside Aluminium, as well as Brazil's MRN bauxite mine, Alumar alumina refinery and aluminum smelter. The MRN stake transfer remains subject to pre-emptive rights held by its partners. The transaction will significantly expand Alcoa's exposure to bauxite, alumina and primary aluminum production, while South32 shifts its focus towards copper, zinc, silver, lead and manganese. Shareholder approval does not mean the transaction has closed, with remaining conditions still to be satisfied. The deal primarily represents a change in asset ownership rather than an immediate increase in global aluminum or alumina production.

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