TORONTO (miningweekly.com) – US specialty metals producer Alcoa has secured several bauxite supply contracts, valued at about $350-million, over two years.
The NYSE-listed company, which expected to separate its main upstream and beneficiating downstream business units later this year, on Wednesday advised that it would supply bauxite to external customers from three of its mines located around the world.
Bauxite, an aluminium ore, is the world's primary source of aluminium.
Alcoa World Alumina and Chemicals (AWAC) would service the new contracts with customers in China, Europe and Brazil.
Alcoa was the world’s largest bauxite miner, having produced 45.3-million dry metric tons in 2015. Alcoa owned stakes in seven active bauxite mines, four of which were operated by the company. These mines were strategically located near key Atlantic and Pacific markets, including the Huntly mine, in Australia, the second-largest bauxite mine in the world.
The AWAC group of companies was owned 60% by Alcoa and 40% by Australia-based Alumina Limited.