PITTSBURGH--(BUSINESS WIRE)--Oct. 15, 2024--
Alcoa Corporation (NYSE: AA; ASX: AAI) today announced an agreement to supply up to 16.5 million tonnes of smelter grade alumina to Aluminium Bahrain B.S.C. (Alba) over 10 years.
Over the life of the agreement, which commences in 2026 and will run through 2035, volume options will allow Alba to procure as much as 16.5 million metric tons of alumina, primarily from Western Australia. This contract extension recognizes the long-term relationship between Alcoa and Alba and will make Alcoa Alba’s largest third-party supplier of alumina.
"By securing this contract extension with Alba, Alcoa further strengthens its position as the premier global alumina supplier, while continuing to provide strategic support to one of the world’s largest aluminum producers," said William F. Oplinger, Alcoa's President & CEO. "This agreement is Alcoa’s largest contract with Alba, a relationship we are pleased to continue as we deliver long-term value to our customers."
This contract extension aligns with Alcoa’s strategy to be a supplier of choice for long-term supply stability by providing Alba with a reliable source of alumina through the next decade, as well as supporting Alcoa’s flexibility to manage its alumina position.
Alba's CEO, Ali Al Baqali, emphasized the significance of this contract extension, stating: “Our long-standing partnership with Alcoa is a testament to our shared commitment to sustainability and mutual growth. This agreement not only guarantees a steady supply of alumina for our operations but also reinforces our position as a key player in the global aluminium market.”
About Alcoa Corporation
Alcoa (NYSE: AA, ASX: AAI) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.
About Aluminium Bahrain B.S.C. (Alba)
Aluminium Bahrain B.S.C. (Alba) is one of the largest aluminum smelters in the world, based in the Kingdom of Bahrain. With a production capacity exceeding 1.6 million metric tons annually, Alba plays a crucial role in the global aluminum market, supplying high-quality aluminum to industries worldwide.
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Investor Contact:
Yolande Doctor
412-992-5450
Yolande.B.Doctor@Alcoa.com
Media Contact:
Courtney Boone
412-527-9792
Courtney.Boone@Alcoa.com
Source: Alcoa
