Glencore to Acquire 3.03% Stake in Brazil's Alunorte Alumina Refinery from CBA for $40M

Glencore will acquire a 3.03% stake in Brazil's Alunorte alumina refinery for 237 million reais (approximately $40 million). This stake is currently held by Companhia Brasileira de Alumínio (CBA). Upon completion of the transaction, CBA will lose the corresponding proportion of alumina production rights associated with its Alunorte shares and will no longer sell the remaining alumina under the sale and purchase agreement.

The Alunorte alumina refinery is located in Barcarena, Pará, Brazil. Established in 1995, it has an annual capacity of 6 million mt and is majority-owned by Norway's Hydro. The current shareholding proportions of Hydro and Glencore have not been publicly disclosed.